There are several reasons. A couple could be shareholders believe they have better uses for the money elsewhere and to keep management disciplined (i.e. too mu

There are several reasons. A couple could be shareholders believe they have better uses for the money elsewhere and to keep management disciplined (i.e. too much cash makes management reckless). Think about if you were a partial owner of two businesses. One business has a lot of cash but isn't growing. The other business is growing but doesn't have a lot of cash. As a partial owner, what would you do?