When the financial press talks about "equity returns", do they mean dividends or dividends and capital growth?

Answer 1

I think you mean ROE. Return on Equity.

This has nothing to do with capital gains or dividends.

It is a measure of a company's percentage gain (gross profit) on its equity.

Good ROE numbers usually go with healthy stocks that will return value to shareholder from dividends and capital gains, but this is not a direct relationship.

Answer 2

Total return is long and short term gains dividends and growth.