Snippet: Apple Considering Stock Split, May Join Dow ☇

This often-recurring rumor makes a lot of sense, as reported by Lisa Rapaport for Bloomberg:

Apple Inc. (AAPL) (AAPL) is considering a stock split that could prompt the company to be added to the Dow Jones Industrial Average, according to a research report from Sanford C. Bernstein & Co.

Apple’s decision in March to pay its first dividend in 17 years makes it more likely the stock could be added to the index after a split, said Toni Sacconaghi, an analyst at Bernstein who rates the shares outperform, in a report today.

“We see the timing as ripe,” Sacconaghi said. “Apple’s initiation of a dividend brings the company in line with all other Dow components. We note that Apple is currently the only company above $215 billion in market cap that pays a dividend and is not included in the Dow.”