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Citi: Here Are a Bunch of Companies Spending More Money on Their Shareholders Than on Their Businesses

And why you should invest in them.

Carl Icahn may be on to something in his push for Apple to continue to send more money back to shareholders.

According to new research from Citigroup, companies that have been making higher payouts to their investors have been heavily rewarded by the market. The note suggests that Icahn's activist Apple strategy may pay off -- at least in the short-term. There is of course an ongoing debate -- which isn't addressed in the Citi note -- about the longer-term implications of companies opting to spend more of their money on dividends and share buybacks than on investment.