Subject: Re: Some Thoughts - Maybe Too Many
I can't see Berkshire issuing its stock to anyone, including its shareholders.

BRK will do what's best for "life long" shareholders. If BRK stock trades at a reasonable price, the company would rather buyback their stock than issue a dividend.

If indeed there is a future dividend, I think the board would have no hesitation to declare a stock dividend to existing shareholders if that means a more tax efficient return of capital. If everyone chooses the stock dividend option, note that every stockholders ownership in BRK stays exactly the same. So there is no argument against it. Moreover, the index funds and other mutual funds may choose cash dividend so over time, it increases the relative ownership of individual, life-long shareholders vs. index funds.