POR and DRIPI like the new payout ratios. "In the latest rolling four quarters free cash flow net payout ratio was 48.3%, calculated on the basis of cash dividends paid, and 64.6% calculated on the basis of total dividends."
They also ended the 5% discount for shares bought with the DRIP. The new shares for the DRIP will now be bought on the open market and not issued from treasury. Therefore no dilution to existing shareholders. The additional share purchases on the open market should help support the share price.