Because PTSC already has to pay 35% corporate tax on the income, so distributing the money to shareholders will cause it to be taxed at anotehr 15-28% based on holding period.

The money is much more effciently used being invested for long term appreviition than distributed.

As far as board consideration, that could simply have been a 2 second agensa item and not a real discussion. Since prior reports indicated tha the board was instituing bi-annual dividends it was important to not again that the divy would not be forthcoming. so I don't read much into that statement.