drp or not to drp.

Anyone has views on AJA DRP?

I've considered the value of participating, but as the value of the SP does not show signs of appreciating (of course there's no manipulation *cough*) over the last few quarters, even on the news of the relative unscathed status of the assets in Japan post disaster - it doesn't seem to make sense to participate in a DRP where the SP languishes, while at least having a 'franked' dividend gives a real return to the investment.

The SP (recently) has tanked almost in line with the dividend amount, therefore wiping out any perceived 'gains', you're just trading off your capital investment for a franked cash income.

I've got the DRP letter in front of me, thus the query, just wondering what other's views are.

Btw, a DRP does NOT increase your holding (in relative terms) in AJA, it merely dilutes your holding if you don't participate -- it's a perfect tool for a company to retain cash and just issue paper.

thanks in advance.