Will dividend increase be short-lived?

First of all, we should note that dividend yields are still quiet low from a historical perspective (i.e. long term).  That said, they have come back somewhat and are more prevalent now than a decade ago (when even Fama and French were writing on the Demise of the Dividend) and this year we are seeing more firms both initiate as well as increase dividends.

So what happened? Several things. The