Returning Member

Dividend VS K1

Three separate but related questions 

As a multi-partnership LLC,that files taxes as an S Corp on form 1120S, is my (1040 since the business doesn't pay tax) tax liability less if I pay out the profit at the end of the year as dividends or receive a K1? 


Furthermore, would the Section 179 Deduction still apply to dividends received as it does to Ordinary Income on a K1?


As an example, the business earns a gross profit of $220,000 a year and the distribution, or profit would be $31,000 after expenses.  I am the only partner, who actively participates, that takes a salary. So this begs the question, would it be a better option to limit my tax liability by paying a salary to the other two non-participating partners? Or to split the 31k by share ownership via 1099DIV or K1?