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I'd love to be a fly on the wall listening to a discussion on fiscal policy, taxes, and investor behavior between Buffett and Munger (who is on Costco's board). Seems that higher dividend tax rates have prompted Costco's board to pay out $7/share rather than retain earnings (presumably for reinvestment).

http://money.cnn.com/2012/11/28/investing/costco-dividend/
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