APPLE Computer for the first time in its history has suspended payment of its quarterly dividend, the company disclosed late, on Monday in a note to the Securities and Exchange Commission. The California based group did not declare a dividend for the October to December period, the first quarter in its fiscal year, and does not plan to do so in the near future, the statement said.

Apple said it foresaw the need for special provisions in the second quarter to cover the cost of reorganisation. Apple had paid dividends continuously since 1987, the last coming on December 15th, when it paid 12 cents a share.