Don't DRIP on ME!!So instead of RAI buying in the open market shares to increase his ownership, or the company buying back stock to increase RAI's and my ownership, over time, he is going to Dilute us through a DRIP, which is like a "stealth" buy in the open market for RAI every time we get this measley dividend.......but RAI will not have to effect the open market price of the shares by buying thru the DRIP.
Look the guy is way to cheap and stingy by a factor of 4!! He just does not want to share with Anybody in the largess that is the land bank at TWC.
So, the numbers please. At a 5 cents quarterly dividend. On 24.5M shares at $16. The drip is 1.25% per year.......and Ray holds 80% that is 1% ownership position increase for RAI every year, non diluted......
IF everyone else does the DRIP he gains NOTHING on the minority in terms of share ownership, and the dividend and drip become a fruitless effort for RAI. Way to go RAI!!