[harperlee]

That needs to have been taken out of context.

Probably what they insist on, is that there is this Gordon valuation model, which, long-term, should apply to any company that gives a dividend, and it's based on this idea that for a company to be worth anything for a minority investor without any control of the company, it needs to have a dividend - which is the only return on investment that such investor will receive, apart from profit for selling in the future.

[JoeAltmaier]

Nah, simply blind insistence that there every stock is worth only what its dividend pays. I don't know why he thought that; but apparently the idea has currency. Look at the comments to this thread!