did anyone tell you I have shares with a cost basis of $6/sh. Include the collected dividends and the effective cost is less than zero. Or look at it another way, my dividend rate is about 25%/yr. Just a little better than a bank CD.
I too have a low basis cost. However, the fact remains that I have over 6000 shrs and only get a cash flow of 1.6% ... unless I sell shares. Selling shares defeats the purpose of LT investing so I'm stuck with a large holding paying almost no cash return. Years ago, this stock had 5-6% range for dividends ... of course, so did the market in general. Now it is the fashion to buy back shares but his does nothing for existing shareholders ... if the company is viewed less favorably by the street those buybacks will see no ROI ... show me the money!