[KellyCriterion]

> The only reason to do a dividend is because people like the feels of getting a cash payout.

Not really, when capital entities came up, the initial goal was to deliver return on invested capital,i.e. something "you get out of the business/back".

Or do you think back in 14th wenn Dutch East India Company was created, that you could by shares and sell them later to a higher bidder after the mission was accomplished? :-)