Whether dividends flow back to shs is on the back of the real question of how best to grow. Often said, if a company cannot earn a better return on its funds with its profit, then better to send it back to shs. Seems growth lines favour the company retaining all its profit - that would be SWM and yet we won't know until plans are fulfilled. Clearly shs like divs but there comes a crunch point for every industry that tells the tale of its future demise. Look at this way, the advertising dollar is all about ideas on how to grow.
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