Here’s Dave Wilson, citing Liz Ann Sonders of Schwab & Co:
Dividend-paying stocks in the Standard & Poor’s 500 Index are more in favor than the shares of companies most inclined to reward investors through stock buybacks. As the chart shows, a gauge of S&P 500 companies that have raised dividends for at least 25 consecutive years has beaten the broader index since July, while an index of companies repurchasing the highest percentage of their shares has trailed.
Interesting stuff, worthy of exploration . . .