Australians love their dividends. And what’s not to love? Those semi-annual dividend deposits are one of the great benefits of investing in a capitalist society. John D Rockefeller famously said: “Do you know the only thing that gives me pleasure? It’s to see my dividends coming in.”

One of the most popular strategies for investors, especially retirees, is to buy high-dividend-paying shares with the aim of generating sufficient income to live on while hopefully leaving the portfolio principal intact.