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  "documentTitle": "JPM Corp Fin Advisory Corporate Compass Jan 2024",
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  "authorName": "J.P. Morgan",
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  "notes": "The slide contrasts buyback/dividend totals with the frequency of new dividend initiations over time.",
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      "text": "Dividend initiations are at the lowest level post-Great Financial Crisis as overall payout trends moderate",
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      "text": "SHAREHOLDER DISTRIBUTIONS FOR S&P 500 FIRMS ($BN)",
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      "text": "FREQUENCY OF DIVIDEND INITIATIONS BY RUSSELL 1000 COMPANIES",
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      "text": "Source: FactSet as of Q3 2023...",
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      "text": "Rising rates reduce the appeal of dividends on stocks as alternative low-risk investments (e.g., money market funds) offer better yield. Dividend initiation levels and yield lowest in the past 15 years. Buyback activity remains robust.",
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      "text": "Re-thinking the growth-vs.-shareholder return paradigm",
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