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: