Assess Apple Inc. payout policy in all of its complexities.

1. Does the firm pay dividends? If so, discuss the payout rate. How has it changed over time?
2. Does the firm pay dividends in any other form--e.g., share repurchase? How does the firm balance this with its traditional dividend payout? How has this policy changed over time?
3. Assess the growth of the firm in terms of its amount of total assets. Where have funds for growth come from? How does this relate to the firm's payout policy?

4. Declared Record Payable Amount Type

   Oct.30, 2019 Nov.11, 2019 Nov.14, 2019 $.77 Regular Cash

   July 30, 2019 August 12, 2019 August 15, 2019 $.77 Regular Cash

   Apr 30, 2019 May 13, 2019 May 16, 2019 $.77 Regular Cash

   Jan 29, 2019 Feb 11, 2019 Feb 14, 2019 $.73 Regular Cash

   Nov 1, 2018 Nov 12, 2018 Nov 15, 2018 $.73 Regular Cash

   Jul 31, 2018 Aug 13, 2018 Aug 16, 2018 $.73 Regular Cash

   May 1, 2018 May 14, 2018 May 17, 2018 $.73 Regular Cash

   Feb 1, 2018 Feb 12, 2018 Feb 15, 2018 $.63 Regular Cash

   Nov 2, 2017 Nov 13, 2017 Nov 16, 2017 $.63 Regular Cash

   Aug 1, 2017 Aug 14, 2017 Aug 17, 2017 $.63 Regular Cash

   May 2, 2017 May 15, 2017 May 18, 2017 $.63 Regular Cash

   Jan 31, 2017 Feb 13, 2017 Feb 16, 2017 $.57 Regular Cash

   Oct 25, 2016 Nov 7, 2016 Nov 10, 2016 $.57 Regular Cash

   Jul 26, 2016 Aug 8, 2016 Aug 11, 2016 $.57 Regular Cash

   Apr 26, 2016 May 9, 2016 May 12, 2016 $.57 Regular Cash

   Jan 26, 2016 Feb 8, 2016 Feb 11, 2016 $.52 Regular Cash

   Oct 27, 2015 Nov 9, 2015 Nov 12, 2015 $.52 Regular Cash

   Jul 21, 2015 Aug 10, 2015 Aug 13, 2015 $.52 Regular Cash

   Apr 27, 2015 May 11, 2015 May 14, 2015 $.52 Regular Cash

   Jan 27, 2015 Feb 9, 2015 Feb 12, 2015 $.47 Regular Cash

   Stockholders' Equity

   Common Stock 45,174,000 40,201,000 35,867,000 31,251,000

   Retained Earnings 45,898,000 70,400,000 98,330,000 96,364,000

   Accumulated other comp. income -584,000 -3,454,000 -150,000 634,000

   Total stockholders' equity 90,488,000 107,147,000 134,047,000 128,249,000

   Total liab. & stockholders' equity 338,516,000 365,725,000 375,319,000 321,686,000