TY - JOUR T1 - Is Dividend Policy Still Irrelevant? JF - The Journal of Wealth Management SP - 61 LP - 66 DO - 10.3905/jwm.2003.320491 VL - 6 IS - 3 AU - Oliver Campbell Y1 - 2003/10/31 UR - https://pm-research.com/content/6/3/61.abstract N2 - 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. ER -