In Mammon Among Friends, Malcolm C. Harris, Sr. provides commentary and news about the national economy, the Wichita economy, the world of finance, and utility & postal economics. Experiences such as a utility commission staff manager, forecasting postal volumes and revenues, consulting on utility regulation, and teaching corporate finance have shaped his analysis.
Wednesday, October 09, 2013
Dividends: To Pay or Not To Pay, That Is the Question.
Dividends do not matter
Oct 9, 2013 : Low bond yields have led investors to
place more importance on stock dividends. John Authers argues that these
are special circumstances, and that there is still some truth in the
Miller & Modigliani theorem – which implies dividends do not matter. He is referring to the M&M Dividend Irrelevance, as opposed to the M&M capital structure irrelevance:
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