Observation and research shows that

dividends have almost been eliminated due to increased stock repurchases.

during the year 1979, about two-thirds of dividends were paid to individuals with a marginal tax rate of 15 percent or less.

the largest corporations have been holding their dividends constant over the last 20 years.

for the period 1980 to 2012, aggregate dividends averaged about 30 percent of aggregate earnings.

the percentage of corporations paying dividends has increased since the Year 2002.