CJ MacDonald, Portfolio Manager at Westwood Management, is out with a note this week covering the history of dividends and an eye toward today’s changing dividend landscape in technology.

Market focus certainly changes over time, but as the market appetite for use of corporate cash comes full circle, and dividends come back in vogue, we believe startegies that invest in high quality dividend paying stocks will be quite attractive over the next few years.

The year 2011 will be remembered for many things, but investors will likely focus on the market’s volatility. A lack of confidence in political leadership in the US and Europe created extreme levels of volatility, which was the key theme for the year. When coupled with fears about the macro-economic environment, asset prices became highly unpredictable.