Subject: Re: Brk, it's time to declare a 1$ quarterly
Maybe that's what BRK could do to satisfy those asking for dividends, split shares from 1 to 1.02 every year, and those want dividend could sell the 0.02 shares, those don't want dividend can keep the shares

This fundamentally misunderstands the argument for considering dividends. I do not think that Berkshire should consider dividends because I want to get something valuable in my mailbox. Rather, I think the company is retaining cash far in excess of any demonstrated need or ability to deploy it. Issuing stock dividends does absolutely nothing to address this concern. At this point, I am still probably in favor of repurchases over dividends (and would prefer attractive investments in operations to both), but if the company is unwilling to repurchase at current prices and is unwilling/unable to deploy the cash elsewhere, I am left thinking that dividends are becoming more appealing every day as simply the lesser of two evils.

For those who are opposed to a cash dividend in any respect, 2 questions:
- Given that you seem comfortable with Berkshire holding cash indefinitely waiting for the opportunity to deploy it at some future date, are you in favor of large stock issuances right now when Berkshire is (as evidenced by a complete lack of repurchase activity at prices anywhere near here) not demonstrably undervalued? If not, why not? Did Berkshire just happen to land at exactly the right level of cash to be holding for future opportunistic deployment?

- Is there a maximum time horizon that you would be comfortable watching consistent cash inflow be retained rather than deployed in expansion, acquisitions, or repurchases? If so, how long is that horizon?