But what I do know is that my Guru Strategies are finding some strong stocks with particularly high dividend yields right now and that a dividend-focused strategy can pay huge, well, dividends for investors.
Picking the right dividend stocks is subtle though, and requires, ironically, a fixed-income mind-set.
The key thing to remember when making a dividend play is to focus very little on the dividend that a company is paying right now and instead drill in on the dividend that they could be paying a year from now.
There are a number of reasons for investors to remember why dividend stocks make sense right now.
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But just as the high-dividend paying stocks plunged right along with the rest of the market in the 2000-2002 and 2007-2009 bear markets, so too did the drug-makers.
Right now, its dividend yield is better than most other generating companies.
Jamie Dimon and his team have shown to be pragmatic in their leadership of the bank thus far, and we are confident they will raise the dividend when they feel the time is right.
European lenders have never been fond of dividend recaps, but admit that for the right credit and under the right terms they will consider them.
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But given how the recent downturn has slashed valuations, and given that stocks of strong companies tend to fare far better than bonds during inflationary climates, I think these big dividend-payers are a more attractive option right now for those with long-term time horizons.
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In a poor market environment like we are experiencing right now, the price depreciation of dividend-paying stocks can completely displace the gains made from the dividends.
Despite the weakness of the economy, Mr Milburn said employment in the professions was increasing and there was a "prospective dividend" for the country if policies were got right.
"Given BP's desire to be seen to be doing the right thing, it may well suspend the dividend until after the well is plugged and the cleanup completed, " said Evolution Securities analyst Richard Griffith.
He seems to be making the right moves -- cutting costs, eliminating the dividend early on, revamping product plans, mortgaging assets to raise money to fund the turnaround, etc.
Even if dividend stocks paid the same as treasuries, I still think stocks are a better play right now.
If shares change in value, that must reflect a change in investors' assessment of either the prospective dividend flow (for example, because of fears about the future level of profits) or the right discount rate (for example, because of a change in inflationary prospects or in long-term real interest rates), or both.
Right now Intel gives you the better valuation with the same compelling yield (and even better prospective dividend growth) as you can get in the utility sector.
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