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3

Harvey Rubin and Carlos Spaht II, “Financial Independence Through Dollar Cost Averaging and Dividend Reinvestments,” Journal of Applied Business and Economics 12, no. 4 (2011): 12.

4

Ibid.

5

Paul Asquith and David W. Mullins Jr., “The Impact of Initiating Dividend Payments on Shareholders' Wealth,” Journal of Business 56, no. 1 (1983): 77.

6

Kathleen P. Fuller and Michael A. Goldstein, “Do Dividends Matter More in Declining Markets?” Journal of Corporate Finance 17, no. 3 (June 2011): 457.

7

Albert Williams and Mitchell Miller, “Do Stocks with Dividends Outperform the Market during Recessions?” Journal of Accounting and Finance 13, no. 1 (2013): 58, http://m.www.na-businesspress.com/JAF/MillerM_Web13_1_.pdf.

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