Income yield and dividend yield are considered 'basically dead' because many companies are deferring or limiting dividend payments due to economic uncertainties, especially highlighted during the COVID-19 crisis.

Dividend investors should focus on a long-term strategy and be prepared to forgo dividends in the short-term, as companies may prioritize supporting their balance sheets over immediate cash returns to investors.

The COVID-19 crisis has led to several Australian companies, such as Westpac, Bank of Queensland, and Qantas, deferring their dividend payments, causing concern for investors relying on dividend income.

Companies face the challenge of balancing the need to support their balance sheets, returning cash to investors, and undertaking potentially risky ventures that may not always succeed.

There is no 'silver bullet' for finding the best dividends during economic downturns, as most asset classes are affected, and investors may need to adjust their expectations and strategies.

Nathan Bell is the Head of Research and Portfolio Management at Intelligent Investor, overseeing the listed Australian Equity Income fund (ASX:INIF), and provides insights on income strategies during challenging times.

The 'From the Bunker' discussion emphasized the importance of a long-term investment strategy and the need for dividend investors to adapt to the current economic climate, potentially foregoing short-term income.

Investors can stay informed by engaging with expert discussions, such as 'From the Bunker,' and following insights from industry leaders like Nathan Bell to navigate dividend opportunities during economic challenges.