Keep in mind, I was not expecting or calling for a dividend increase. In fact, I've been lukewarm on the idea since it was first proposed, despite being rewarded handsomely by its existence to date. I think large dividends for Apple attract fair-weather investors, many of which pile in, then sell off AAPL to collect their paycheck. I know my opinion on this matter is in the minority. A stock buyback program, minus the dividend would have been my druthers.