Always reinvest (I've held this stock since 2004), although sometimes I wonder if I should take some cash. Then I realize that I don't know what to do if I took any cash. There's no doubt that buy and hold means that after several years, my initial investment has practically doubled, if not more... even with the stock currently less than what I initially paid. It's just a huge dividend.
There are people on this board who have owned it for decades.
At some point I do wonder if I'll just take the cash, but again I really don't know what I'd do with it. Maybe use for PM.
I've owned BTI which only pays a cash dividend (can't reinvest ADR), and that almost felt very disappointing for me. So I recently sold it at $102 and saw it go to $108. Think it's back at $100ish.