Stocks that grow their dividends have outperformed non-dividend-paying stocks over the long-term, but not in the past 5, 10, and 20 years. Why are non-dividend paying stocks outperforming dividend growers, and will it continue?

Topics covered include:

What message do companies say when they initiate, grow, or cut their dividend
What is dividend smoothing
How have dividend payers performed relative to non-dividend payers
Why have non-dividend payers, which are primarily growth stocks, outperformed dividend payers
How the payout ratio and return on equity impact dividend strategies
What are reasons to include dividend strategies in your portfolio