You don't buy the argument that, for the shareholders who want to leave their money in the company, receiving a taxable dividend and reinvesting through the DRIP is very supportive of government and very destructive to personal wealth.
The fact that the controlling shareholders discovered that they received a big tax bill after they reinvested the last dividend is very likely why they are baulking at bringing on more self inflicted wounds.
Paying dividends out of a company with strong growth prospects, when the majority of shareholders are happy to reinvest/leave the profits in the company, just doesn't make sense from a tax management perspective.
XPD Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
