Gamco Predicts 'Significant' Apple Dividend Next Year

Howard Ward of Gamco Investors is predicting that Apple will issue a 'significant' dividend next year, reports BusinessWeek.

Under the leadership of Steve Jobs, Apple has not paid out any cash to shareholders; however, CEO Tim Cook may consider the option.

"I'm not religious about holding cash or not holding it," Cook said on an October 18th conference call with analysts. "The cash that we do spend, we're doing an extremely good job of it and we're very frugal about using it and using it in the right places."


Ward, who oversees about $36.1 billion for Gamco Investors, said on Bloomberg Television's Street Smart that "we're going to see a dividend announced for Apple at some point in the first half of 2012." He continued to predict that it "could easily be a 3 percent dividend-yielding stock or even higher."

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