Do dividends impact the cost basis of the members in our
club? It seems that because dividends raise the value of
the share price, they would have to be paid out as a
distribution (like a mutual fund) in order to impact cost
basis. Then the share price would have to be adjusted down
to reflect the payout of the dividends, even though most (if
not all) members would just reinvest those dividends in more
shares (adjusting their cost basis).

I guess it seems to me like a mutual fund. They collect all
these dividends throughout the year, but until they pay them
out (usually in December) my cost basis doesn't change, but
my fund's share price is going up as the total value has
gone up from dividends.

Can someone confirm or correct me about how dividends may or
may not impact our cost basis information for members??