Marc Hasenfuss Editor-at-large

Like my dividends ... probably much more than the next investor. I get huge satisfaction from seeing my distributions drop through — albeit these days with 20% lopped off in dividend tax (and a growing fear, noting Sars’ collections shortfall, that this dastardly tax may again increase in the not-too-distant-future).My ploy — on paper — is to collect distributions, and then mobilise these cash flows into more adventurous (nondividend paying) positions. In reality, I tend to just buy more high yielding stock.I might also add how envious I am of my friends who stuck it out at consumer brands conglomerate AVI — which showed no signs of being cowed by current trading conditions when it stuck firmly to its generous dividend policy of paying out 80% of earnings to shareholders.One cannot but be impressed by unflappable AVI CEO Simon Crutchley’s efforts to balance market share and margin considerations as well as grasp operational nettles like fishing subsidiary I&J and shoe business Gree...

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