No. of Recommendations: 2
This is sort of weak, but here goes. parameters: timeliness=1-5 (disable it); run from 1986-2003 (full data set). Holding period: 1 month.

CAGR results:

Dividends > 5: 14%
Dividends 1-5: 13%
Dividends <1: 12%
S&P 500 for same period: 12%

You can argue about survivorship bias, lack of enough data, etc., all you want. But the previously mentioned books go back much further and essentially produce the same results. When the ONLY criteria is dividend yields, then the result is that higher dividends win. The same thing happens when the only criteria is P/S, P/E, or size (capitalization or EV).

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