Subject: Re: Brk, it's time to declare a 1$ quarterly
A dividend is predictable, the share price is variable.

Though true, it doesn't really help that much. Management chooses the amount of the payout, which is guaranteed to be either higher than desired or lower than desired for the vast majority of shareholders.

A dividend is a great idea for a company with no ability to allocate capital, with a high-to-overvalued share price. It isn't entirely clear why companies with those two characteristics would be very attractive investments in general.

Jim