One year ago, Apple instituted a dividend. In this video, Andrew Tonner discusses how Apple might return more if its $137 billion cash hoard to investors. A dividend increase certainly looks likely, as does a stock buyback. Will the company borrow money at today's low interest rates to fund activities and return cash to shareholders? Will it issue preferred shares? Apple has flexibility, and Andrew addresses different strategies on how some of its cash may find its way back to investors.

Andrew Tonner 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.