You seem to have a strange fascination with the fact that the share price drops by the same amount of the dividend payment each quarter, as if you aren't actually gaining anything. Company's pay out the dividend, and the value of the shares is instantly adjusted. According to your interpretation, eventually one's investment will be worth zero, as long as the company keeps paying dividends. Benjamin Graham and Warren Buffet made billions of dollars buying dividend stocks, I guess they started with more billions and worked their way backwards, right?
you seem to have no clue about finance and the difference between a dividend that is paid from earnings and cash flow versus one paid from shareholder equity. Over the next 2 years it is well known that $4.2 per share will get taken out of book value to pay you your dividends. Its your capital that your getting back...if you want to do it at 0%, be my guest
yes, if a company continues to pay out more than it earns, eventually its price will go to zero..i suggest you take a look at Ben Graham's rules for dividend stocks that he invested in....EXC would not fit the bill