Google is currently sitting on $50 billion in cash. Should the company pay a dividend? In this video, Andrew Tonner looks at why he thinks it won't happen. For starters, even though Google can fund much of its research activities with its current cash flow, that $50 billion reserve is a nice backstop. Furthermore, paying a dividend may cause investors to perceive Google less as a cutting-edge growth company and more as a mature tech company. With projections of 20% annual growth for the next several years, that's not a perception Google wants to promote.

In time, Google may grow its bank account to the point where investors insist on a dividend, but Andrew says that time is far in the future.

Andrew Tonner owns shares of Apple. The Motley Fool recommends and owns shares of Apple and Google. 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.