...why pay 8% dividend if you can borrow money at 5%. The announced shelf-offering could open this perspective. Let George explain in the presentation of the quarter why he hasn't taken action in this (if not presented). Take 2.000.000 shares and save $ 1.600.000 in cash. Okay interest-cost will rise with $ 1.000.000 but then again profits per share will rise. Suppose current EPS $ 2.20 x 30/28 (million shares)-0,036 cents per share = new EPS $ 2.32. This is going to be a very critical question at the next DRYS -presentation. I wonder if certain parties are going to help George in this; chances are there....so take them !