Return the Dividend

Summary

• The author argues that companies like Adobe (ADBE) and PayPal (PYPL) could see higher stock prices if they replaced share buybacks with dividends, based on the idea that dividends lower asset duration and risk.
• This is a theoretical thesis about capital allocation policy, not a specific price target or trade recommendation.
• Quality assessment: Speculation / opinion piece with conceptual reasoning but no data, backtesting, or detailed fundamental analysis.