The first thing most investors probably notice when considering an investment in AllianceBernstein (NYSE:AB) is its dividend. The stock sports a mammoth $1.60/share dividend giving it roughly a 7% yield based on recent pricing of around $23.00 per share. Unfortunately though, the dividend is about all AB investors have had going for them in recent months. The company's stock has been largely stagnant over the last year missing out on the massive run-up in the broader market. This is probably because to be honest, AB simply is not executing all that well these days. Assets under management (or AUM) have been declining since the Crisis with frequent bouts of negative fund flows. This situation has prevailed despite AUM...
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