Itās a side effect of owning good companies, frankly donāt know much of them without one , even if I ignore dividend, I usually circle back to same company list. Darn dividend. 
But then you have same limitations to growth. People say P/E not good metrics for growth stock, then recession arrives and that same growth stock returns to PE 15ish.
Thus we can say dividend is irrelevant, but what is relevant is valuation. Which I see this days is largely ignored.