I'm not saying that it isn't done or that it shouldn't be. I bought stock in AGCO years ago when it was pretty much worthless. When I went to Edward Jones and wanted to buy it, the broker had never heard of it. He had to look it up, then he tried to talk me out of it because it didn't pay a dividend. I told him I wanted it just because I wanted to own it, so he bought it for me. After 5 or 6 years, it did start to pay a dividend. I reinvested it back in to more stock. At one point recently, it was worth 10 times what I paid for it. Right now it's worth about 8-9 times and I have more stock.
If you bought Deere stock today, unless they issued more today, you'd be buying existing stock from a brokerage wouldn't you? Not investing money that they were using to operate. By the same token, if you sold 10,000 shares of it today, the money to pay you for it wouldn't come out of Deere's treasury would it?
Don't act so altruistic thinking you're saving some big corporation from bankruptcy. Let me change a word from a noun to a verb and say that buying stock in a highly profitable, existing business for the sole purpose of getting a dividend is a 'parasitic' act by definition isn't it? Not saying it's wrong, not saying it's illegal, not saying I don't own stock that I picked myself, that pays a dividend, I'm just saying that getting a dividend for sitting in your recliner and denying a larger share of the profits to those who do the work and make the profit for the company that you or I own stock in could be seen as morally wrong if you want to get right down to the nuts and bolts of it.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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