OppenheimerFunds has introduced a new fund that concentrates on companies that pay dividends.
   The Oppenheimer Dividend Growth Fund is billed as a fund that seeks total return through capital appreciation and income, with a focus on dividend growth stocks.
   Noting that since 1926 dividends have represented about 43% of equity market returns, OppenheimerFunds states that recent changes in tax codes, corporate accounting and governance standards, and corporate cost restructuring have given companies an incentive to pay dividends.
   "The incentives for companies to pay dividends, the reduced tax rate for investors who receive dividends and the demographics of this country are aligned," says Neil McCarthy, the fund's lead portfolio manager. "We expect the market to return to a more normal scenario where dividends are a significant part of total return and where dividend-paying companies command a premium."