While Apple's (NASDAQ:AAPL) product releases are undoubtedly a major driver for Apple's stock, the company is creating value for shareholders in other areas far more imperceptibly: through dividends and share repurchases.

While Apple's dividend yield may be relatively small at just 2.3%, management's efforts to return cash to shareholders are extremely aggressive when you also consider Apple's share repurchases over the past 12 months. In that period, Apple has bought back a whopping $40 billion worth of its shares. Even more, in the weeks following a sell-off sparked by less than expected first-quarter iPhone sales, Apple opportunistically repurchased $14 billion worth of its stock.

In the following video, Fool contributor Daniel Sparks takes a closer look at how Apple is building shareholder value by buying back its own stock at excellent prices.

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Daniel Sparks owns shares of Apple. The Motley Fool recommends and owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.