If they had a reverse split like you mentioned 1 for 10, for example, then they would have 10 times the number of shares outstanding. If they paid an 11 cent dividend to 10 times the number of shares, the bottom line would be the same, $1.10. They are talking $1.10 value. But, it's the same math. Also, I think that Downs intention was to increase IDWD's stock price to make any mergers or acquisitions more affordable for IDWD. JMHO