At Apple's (NASDAQ:AAPL) annual shareholders meeting last week, CEO Tim Cook reiterated that its board will consider expanding its plan to return cash to shareholders. The current plan has authorized up to $60 billion in share repurchases by the end of fiscal 2015, as well as a dividend of $12.20 per share per year.

Will Apple boost its plan for returning cash to shareholders? In the video below, Fool contributor Daniel Sparks explains why he thinks Apple will boost its dividend by 15%, at a minimum. He suggests another 15% would be perfectly reasonable considering that Apple is only paying out a fraction of earnings while still raking in loads of cash. Further, Daniel explains why he thinks Apple is an excellent dividend stock for long-term investors.

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 may not 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.