Sure, as long as it pays good dividends.

Not everything needs to grow into the sky.

You do get the fact that a company with no growth but paying dividends will be worth (including the dividends you extracted) exactly what you paid for?

It would be worse than buying a bond: you'll get the risk of equity with the returns of a bond.

Not an economist, but I have tried to keep informed and what you say doesn't seem like it should follow.

(Then again English is not my first language.)