That ended in 1958, when, for the first time, dividend yields fell below long-term government bond interest rates. They've never looked back. Nobody expects stock yields to go back to the level of bond yields. On most high-techs, it's zero or close to it. And it's getting worse every day, partly because macroeconomists tell companies they should eschew dividends and spend any funds they have on capital investment.
Trouble is, that opens the door to accounting hanky-panky.
You can't pay dividends with funny money. Some investors like the advantage of being taxed for capital gains instead of dividend income. Weiss can't figure out why investors are satisfied with stock buybacks. It doesn't improve the tangible return on investment. They are taxed at the corporate and individual shareholder levels.