Great logic. What co is forced to pay a dividend (excluding REITs)? I'd bet they have enough in R&D, genius. A dividend and/or share buy-back. Probably on the order of 1-2% on both (div-yield and total share repurchase). There is no way that Cook is going to pay a multiple of LIBOR. Div of 2% or less.
But the 10B does not go into shareholders pocket. Its a backdoor payment for insiders because Apple stated that the 10B will just be used to neutralize stock dilution due to issuance of stocks to top insiders. You only get the dividend.
Apple rewards investors with dividend, share buyback. "SAN FRANCISCO (Reuters) - Apple Inc CEO Tim Cook, moving swiftly after taking over from the late Silicon Valley icon Steve Jobs, fulfilled a longstanding desire of investors by initiating a quarterly dividend and share buyback that will pay out $45 billion over three years. The world's most valuable technology company will start paying its first dividends since 1995 -- a regular quarterly payout of $2.65 a share -- in July, and buy back up to $10 billion of its stock beginning in the next fiscal year."