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Scenario 1 Scenario 1 $43.00 Shares outstanding 10,306,000 Market cap $443,158,000 Excess Cash Dividend per share $93,060,000 $9.03 Jeff Certainly. Our policy is centered around investing internally rather than paying dividends for the time being. George But you are talking about expanding your warehouses throughout the country. That's enormously expensive. Don't you think investors would like to see a return on their money sooner than "sometime in the future"? Jeff What are you proposing then? George I think Amazon should be paying out a large Q3 dividend. Investors have gone 5 years with essentially nothing coming back to them, only promises of growth far off in the future. This scenario is shown to the right of your screen. How would a one-time dividend affect the value of Amazon stock if it were announced today? Materials on the right have been updated >> Stock price A one-time dividend would decrease the stock price today. A one-time dividend would increase the stock price today. A one-time dividend would not affect the stock price today.