Why It Makes More Sense For Exxon To Buy Back Shares Instead Of Paying A Dividend
Last week I wrote an article about how you can create your own “dividend” by selling shares. Many investors have an irrational dividend bias: Benjamin Graham wrote in the Intelligent Investor that a rising dividend has the potential of attracting “ignorant coupon clippers” – not business owners. I believe too many shareholders in ExxonMobil (XOM)…