I don't think most people understand the concept of dividends.
The main criticism is that company profits are much better used when re-invested back into the company. Why would you be excited that a company is giving away it's money instead of re-investing in itself to make itself more profitable in the future? Now, if you personally don't want to see your "gains" re-invested, then you have the choice to just sell a portion of your investment and take the profit without affecting the company (assuming you don't have some massive position where a sell would affect the stock price, which is the normal case).
Dividends are usually also taxed twice. The company has paid taxes on it's profits, and the shareholder pays income tax on the dividend payment. Whereas taking your gain from selling the stock is independent of any tax the company has paid.
Dividends also give this false impression of extra profit. When a company pays a dividend, the stock reduces by virtually the same amount of the dividend that was paid. Thus you aren't theoretically getting anything extra. If your share was worth $30 and the dividend is $3, you receive $3 in cash and now your stock is worth $27. So, paying the dividend is not giving anything extra to shareholders. If anything, it forces you to manually rebalance your portfolio to account for the dividend. Now this may not be a big deal on a normal basis, but it's still something to consider. i.e., you put $100 in dividend paying stocks and $100 in nondividend paying stocks. If the dividend paying stocks have paid out $10, you now have $10 in cash, $90 in dividend paying stocks, $100 in non-dividend paying stocks. Your portfolio has changed balance simply because of dividends.
Some practical uses of dividends are receiving cash from your investment that is taxed at a more favourable rate than short-term capital gains and not having to act (i.e., sell shares) to receive income. So that can be a convenient point.
Now sure, you can argue that Apple is an extreme case.. after all who the hell has $100b in cash just sitting around. So I'm not really trying to apply the normal aspects of dividends to this situation. But these are facts worth noting in general. Dividends should not, in theory, be a "good thing". Thus even though you can argue dividend paying stocks do tend to perform better than non-dividend stocks, the reason is not the dividend itself. It may just be the company was in good enough shape to pay dividends, whereas a company losing value is probably not in a position to pay dividends.