Have you noticed the sharp decline in Apple's (AAPL +2.91%) shares? Several theories are floating about as to what's behind the sell-off, but the most popular may be the company's presumed reticence in paying shareholders a special dividend. Traders appear to be cycling out of Apple in order to capture huge one-time payments elsewhere. Consider:
- Costco Wholesale (COST +1.02%) plans on paying out $7 a share before year-end.
- Las Vegas Sands (LVS +1.39%) will pay an extra $2.75 a share.
- Oracle (ORCL +4.27%) won't issue a special payout, choosing instead to combine the next three scheduled dividend payments into a lump-sum distribution on Dec. 21.
All of which would be good if greed didn't get in the way.
Too many are bidding up or selling off quality businesses merely for their stance on special dividends. Apple won't pay one? Sell! Las Vegas Sands is paying cash? Woo-hoo!
Please don't be that type of investor. Special dividends mean little in the larger scheme of a Foolish investment thesis, both practically and financially. Click on the video below to find out more.
