We don't want a div.

I am not sure who "we" refers to.

I am in the distribution phase, I expect the long term capital gains tax advantage to be taken away in the next Administration (say 2030) and step up basis on transfer at death to be eliminated by the next Administration and corporate taxes are going to be raised substantially (the tax money is going to have to come from somewhere). As such, I think the benefits of buybacks vs dividends on on a tax basis are going to disappear and would welcome the higher price due to dividend payments.

For those that don't think dividends raise stock prices, imagine what would happen to Apple if they said they were going to stop paying a dividend and hold the money for an unspecified length of time to be used when opportunities may develop.

Aussi