PT - JOURNAL ARTICLE AU - Oliver Campbell TI - Is Dividend Policy Still Irrelevant? AID - 10.3905/jwm.2003.320491 DP - 2003 Oct 31 TA - The Journal of Wealth Management PG - 61--66 VI - 6 IP - 3 4099 - https://pm-research.com/content/6/3/61.short 4100 - https://pm-research.com/content/6/3/61.full AB - Professional press has lately seen a resurgence of advocacy for dividends and their importance for investors. Why is there renewed advocacy when dividend policy has been an area of finance that has been heavily investigated and researched? This article explores the dividend issue against the backdrop of the change in the 2003 tax law for taxable equity investors, dividend paying propensity of S&P 500 companies, and the research of leading academics. In the end, the author concludes that dividends play only a modest, supporting role for valuation.