Ep #61: Dividend Smoothing

An interesting phenomenon that occurs inside of the investing world
is something called, "Dividend Smoothing". The basic idea is
this... While companies are not obligated or required to make
dividend payments to their shareholders, you almost always see a
steadily growing dividend payment stream over time. The reasoning
and rationale for this is simple, once you understand the dynamic
relationship between an investor's goals and the company's goals.
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