The whole essence of a stock dividend is that they're paying it to every shareholder in the same proportion, so every one hundred shares becomes one hundred and five shares; so you know that that has no meaning to me.

但股票股利的要义就在于,他们给每个股东相同的份额,所以每一百股都变成了一百零五股,这对我来说毫无意义

耶鲁公开课 - 金融市场课程节选