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Jan 31, 2003

Leader: Back to life

'Death to dividends,' we vowed in 1998

'Death to dividends,' we vowed in 1998. Boy were we wrong. President Bush's proposal to end double-taxation of dividends could bring the cash payout back from the brink. Even companies that would never have dreamed of it are now taking a close look at dividends, with tech powerhouses like Cisco and Oracle hinting they might suddenly transform into widows and orphans stocks. Five years ago the S&P 500's average yield was sinking past 1.5 percent as stock prices rocketed. Today the average

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