"This book is designed to provide a good understanding of the field of investments while stimulating interest in the subject. This understanding is valuable because each of us must make various investment decisions during our lifetimes--definitely as individuals, and pos- sibly in our chosen...

Dividend reductions have long been considered a "last resort" action for firm managers. Managerial reluctance to reduce dividends emanates from the view that dividend drops signal managerial pessimism regarding future earnings. Contrary to expectations, studies show that earnings rebound...

We evaluate the investment benefits of dividend-paying stocks and make three major findings. First, high-dividend stocks have the least risk, yet return over 1.5% more per year than non-dividend payers. Second, the benefit of targeting dividend payers is conditional on investment style....