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Dividendpaying companies tend to have strong cash flow from "summary" of The Little Book of Big Dividends by Charles B. Carlson

Dividend-paying companies often exhibit a common trait – strong cash flow. This shouldn't come as a surprise, as companies that consistently pay dividends typically have stable and growing businesses that generate a reliable stream of cash. After all, in order to pay dividends to shareholders, a company must have sufficient cash on hand to do so. This is where strong cash flow comes into play. Cash flow is essentially the lifeblood of any business. It represents the amount of cash that flows in and out of a company over a specific period of time. A company with strong cash flow is better equipped to weather economic downturns, invest in growth opportunities, and reward shareholders with dividends. When a company consistently generates more cash than it spends, it not only signals financial health but also provides a cushion for uncertain times. Moreover, companies that pay dividends tend to be more disciplined in their financial management. By committing to returning a portion of their profits to shareholders in the form of dividends, these companies are held accountable for their capital allocation decisions. This often leads to more prudent spending, strategic investments, and a focus on long-term sustainability. In contrast, companies that struggle to generate enough cash to cover their dividend payments may face challenges in the long run. They may be forced to cut or suspend dividends, which can erode investor confidence and lead to a decline in stock price. On the other hand, companies with strong cash flow are able to not only sustain but also grow their dividends over time, attracting income-oriented investors seeking reliable returns.
  1. The relationship between dividend payments and cash flow is a fundamental concept in investing. By focusing on companies with strong cash flow, investors can potentially build a portfolio of dividend-paying stocks that offer both income and growth opportunities. As the saying goes, "Cash is king," and companies that prioritize cash flow tend to be well-positioned for long-term success.
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The Little Book of Big Dividends

Charles B. Carlson

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