But the companies are announcing large repurchases of their own shares, and some are expected to raise shareholder dividends.
He said the savings would come through elimination of shareholder dividends and Federal taxes and through lower capital costs.
The company reports to have paid shareholder dividends for 67 consecutive quarters.
First Interstate plans to spin off what is known as a "bad" bank in the form of a shareholder dividend.
Nissan also eliminated the shareholder dividend for the first time since it became a publicly traded company a half-century ago.
The remaining funding will be from a reduced shareholder dividend.
But heck, that would mean the private water companies having to invest more instead of putting it into shareholder dividends.
And unlike Lilco, the authority would not have to pay Federal income tax on shareholder dividends.
After officers' salaries and shareholder dividends, Classico showed a profit of $120.
The company paid its 30th consecutive increased shareholder dividend this month, and it recently reported second-quarter profits more than doubled from a year ago.