PT - JOURNAL ARTICLE AU - Francis Gupta TI - Market Risk, Size, Style, Momentum,<br/>and Dividends: <em>U.S. Equities</em> AID - 10.3905/jpm.2012.39.1.046 DP - 2012 Oct 31 TA - The Journal of Portfolio Management PG - 46--58 VI - 39 IP - 1 4099 - https://pm-research.com/content/39/1/46.short 4100 - https://pm-research.com/content/39/1/46.full AB - This article investigates the historical performance of the dividend-paying equity universe within the U.S. from 2000 through 2011 and compares it to the universe of stocks that did not pay dividends. To isolate the performance of the dividend factor, the analysis controls for the following fundamental factors: market risk, size, style, momentum, and sector. Finally, the article highlights the portfolio selection implications of this research for asset managers.TOPICS: Portfolio construction, equity portfolio management, security analysis and valuation