[bvw]

Yield is only that actually paid out and received -- not some paper profit. It doesn't suffer appearences, it is or it ain't. Very occasionally companies have been known to borrow to pay the yield, but in some not-so-long term that practise trips itself up. Investors should be aware of it.

The yield and taxes -- those are two solid measures of a companies ability to pay, and a company that can't pay is -- just for that -- not an investment.

Folks claim that rather than paying out the doubly taxed yield it's better to take that money and invest back in the company. But be careful -- charlatans and frauds will be among the loudest so claiming! Shorthand, it is far healthier to call any tradeable instrument that is unable to or does not return a regular yield a speculation.

[Wm Bach]

Assuming that corporation isn't involved in yield burning.