If you think about Rio in Brazil, one of the images is the cross on top of the mountain; if you think about Montreal although the mountain is much smaller there is a cross on the mountain. A number of years ago, travelling to the city time was taken to walk up to the cross look across the city and come down again. Similar to every city there are stories behind why the cross or whatever symbol of the city is present. In the book No Place More Suitable by John Kalbfleiseh published by Vehicule Press, Montreal, Quebec, the author has written stories about the history of Montreal.
The story was about 35 years before the cross was placed on the hill, a group thought a statue of the Virgin Mary would be the think to have. Montreal has always had many of the catholic faith and statues are a good thing. It turns out some did not want it, including Protestants who believe in Mary’s son. The statue was debated for some months before city council decided to approve it, but quietly shelved the idea because of lack of funds to build the statue.
Linking to dividend paying stocks, while not everything comes down to money, there is an element when there is indecision. It would be wonderful if all the cities around the world had statues to honor those who have gone before, but statues can be decisive. More generic representations tend to win out. If the group started with a fund which gained interest and popular support over the years, the discussion would be which statue to build. Dividends give options to reinvest or buy something new or spend the money and having the option is a good thing to have.
There are more questions than answers, till the next time – to raising questions.