Don’t own. Online presentation
Some interesting facts.
1936 -2023 dividends were 37% of total returns
2013-2023 dividends were 17% of total returns.
A product of very low interest rates.
Therefore we are back in a value orientated era?
The recent rise in growth shares suggest not quite. It is noticeable though that the growth companies that have risen again are highly profitable so called quality companies.
As they say in the online presentation if they paid dividends it would imply that they are struggling to find high growth investments for their capital.
Anyway the rise in interest rates should at least mean a re-rating of value?