I personally don't like dividend reinvestment plans at all, as it would increase the SOI. It would therefore be counterproductive to the share buyback you've suggested and be a pain in the neck accounting wise doing your tax. (working out capital gains/losses when selling)
If someone wants to increase his holding in the company, just use the dividend cheque & buy on-market.
Anyway, far too early talking at this stage about dividends, long way off.
WPG Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held