Never. Management does not care about shareholders. Hoarding cash is the strategy for last 5 years and for the next 5. Cook must guarantee he can collect on some of his stock grants in 5 years so cash ensures they won't go under and holds a floor of around 150 to 200 per share
Doing so is yet another positive catalyst and a valid way to show support by the CEO to the shareholders.
There are many other things aapl is doing as well. Look for the new products and especially the new TV technology that could change the world as we know it! Also look for a huge China deal that will boost the stock big time as China becomes the biggest market. Do people realize how big that is? That alone could double the stock. Cook said don't bet against aapl and he is about to prove why very soon! Don't be short here especially at the double bottom. We are heading up huge very soon!
Dividends and Stock repurchased are only paid from DOMESTIC cash and DOMESTIC future earnings.
See footnotes in the Annual report. Until the tax laws change, I would not count on any significant increase.
I heard $68 billion was held overseas and it would have to be repatriated before it could be used to pay dividends or buybacks. That still leaves quite a bit of cash held domestically however. I'd think they could at least increase the dividend to 3.5% using domestic cash and in the meantime the cash horde keeps building.