Prices of stocks have increased a lot in 2013. As a result, many dividend investors are shunning purchases, citing high stock prices. This means that they are not reinvesting dividends, and keeping any fresh portfolio contributions in cash. The issue with this strategy is mostly psychological.
These investors are hoping for a correction, that would make investments affordable again. They believe that they are better off waiting for better prices, rather than buy shares at or above the maximum prices they are willing to buy at.