Apple on Monday announced that it will pay a dividend of $2.35 dollars a shares which equals a dividend yield of 1.88% In line with what other tech companies pay. They also announced the buy back of shares. Apple which has $100 Billion dollars in cash on hand has been pressed by shareholders to redeploy its excess capital.

The dividend would be the first one that Apple has issued in about 17 years. The company which at one point was on the brink of bankruptcy now has more cash then it knows what to do. One thing that Apple has been doing with its cash is buying components for its products. The Stock Buyback would be the first one since 2009. The company produces an enormous amount of cash from operations. Even with its dividend and buyback Apple is expected to double its cash reserves in the next three years.

The news of the dividend was widely expected and pleased some shareholders while others said Apple didn’t do enough. However, many were pleased that Apple didn’t announce the acquisition of RIMM.

Additionally, Apple announced that its launch of the new iPad has been very successful with it’s best launch for the product line. During the news conferences there was no mention of the iPhone 5 or new Apple TV.

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