Subject: Re: RW, Just Hold the Gdamn stock,
" Does paying a dividend add to the admin expenses for a company? I believe it does in both hard costs and soft costs (distraction from primary mission). However, I've never peeked behind the curtain on any formal analysis to see these charges, ledger entries or worked with anyone who has."

Yes, there are costs to pay a div. brk could pay a div and raise the div 2,3-5 percent a year. The administrative costs are pocket change to brk as they are for msft, goog, apple, Meta, etc. IF, we had a true Independant BODs, brk would have authorized a buyback at , material discounts to IV in 2008, as well as initiated a very small div, to increase demand for the common. Sadly, Buffett's foundations realized substantially less than they should have from his generosity, because the stock traded near BV for WAYYYYYYYYYYYYYY to long.