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Dividends or Buybacks: Which Is Better?

Both have pros and cons, but in today's environment, this is no longer an either-or prospect for investors, who should instead consider total shareholder yield.

Karen Wallace: Hi, I'm Karen Wallace for Morningstar. What's the best way for companies to return profits to shareholders? I want to introduce you to one of my colleagues who spends a lot of time thinking about that question. This is Dan Lefkovitz. He's a strategist in Morningstar's Indexes group.

Dan, thanks so much for being here.