Welcome to the Dividend Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life.

Hello and welcome to another dividend cafe. I am absolutely thrilled to be bringing you a message that is very similar to last week in terms of the topic.

The Dividend Cafe needs to talk about dividend investing.

It is what we do with the Bonson Group.

It is a philosophical discussion.

It is an economic discussion, but it really is a personal finance,

a practical investment consideration of which we have basically built our investment philosophy.

And so last week, I got to write about a common misnomer in dividend investing and understanding that a profit retained and a profit distributed are

not the same thing, that there is a element in which we can mathematically compose it to feel the

same, but in every practical and operational consideration to an investor and ultimately long-term cultural considerations

out of a company operation and company strategy, it is just simply not the same. And so we

valued profits distributed in the form of dividends, not profits retained other than where

they're needed for

legitimate business expansion. This week, I want to talk about a little history. And I don't think

I've done this in Dividendon Cafe before where I'm kind of using a particular book that I

recently read as sort of my driver. So I'm going to just start off getting all the, you know, risk of plagiarism

out of the way lest I ever interview for the job of president of Harvard. I don't want to end up

running into trouble by not fully attributing credit or credits due. But I'm holding in my hand a book called The Ownership Dividend,

The Coming Paradigmary Shift in the U.S. stock market by Daniel Paris.

I've known Daniel for some time.

He's a dividend growth manager at Federated.

I've been in our business a long time.

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