4. Dividends payments and repurchases (S15.1) Go to the Apple website or to a financial source such as Yahoo! Finance.

a. Has Apple’s dividend increased from the initial quarterly rate?

b. What was the announcement date of the most recent dividend?

c. When did Apple stock last go ex-dividend?

d. What happened to the stock price on the ex-dividend date? When was the dividend actually paid?

e. What is Apple’s dividend yield?

f. Look up estimates of Apple’s EPS for the next year. What is the dividend payout ratio?

g. How much does Apple plan to spend on repurchases in the next year? What is the overall payout ratio (dividends plus repurchases)?