the "tax" part is obviously important (dividends are taxed while unrealized gains are free until security is liquidated). what most people ignore when doing th

the "tax" part is obviously important (dividends are taxed while unrealized gains are free until security is liquidated). what most people ignore when doing these types of analyses is that a bird in hand is worth two in the bush: your risk of loss in the non-dividend payer is always 100% whereas your risk of loss in the one with the historical income stream is price - dividends received.