Please do not pay dividends. Any stock that pays dividends means...

Please do not pay dividends. Any stock that pays dividends means that management thinks they cannot grow investor's money faster than the market, and so are paying it back to investors.

In the long run, the equities market earns about 7%. Any company that says they cannot achieve better than an ROE of 7%, I will sell out of as it would mean that the management thinks they will do no better than 7%. That is a FAIL in my books.