who trades the stw?, page-9

Why do you want income? If you think you are a better allocator of capital than the companies in the ASX200, then keep the money in your own hands. If you think they are better allocators of capital, then let them keep the money. Every dividend/distribution you receive is a small withdrawal of your investment so it makes no sense to find an investment attractive on the basis that it gives you back some of your own money every six months.

Personally I would prefer the companies in which I invest to pay no dividends so that I could take full advantage of the lower corporate tax rates. If and when I need the money, I can always sell down a portion of my share holdings.