['12', 'businesses', 'is', 'generating', 'positive', 'can', 'cash', 'flow,', 'and', 'we', 'have', 'been', 'using', 'this', 'cash', 'flow', 'to', 'accomplish', 'our', 'second', 'goal:', 'Increasing', 'returns', 'to', 'you,', 'our', 'stockholders,', 'while', 'still', 'maximizing', 'investment', 'for', 'further', 'growth.', 'We', 'are', 'doing', 'this', 'by', 'managing', 'our', 'debt', 'levels,', 'by', 'investing', 'in', 'our', 'growth', 'through', 'capital', 'expenditures,', 'and', 'acquisitions', 'and', 'by', 'continuing', 'to', 'pay', 'out', 'good', 'dividends', 'and', 'repurchasing', 'our', 'stock.', 'Over', 'the', 'next', 'five', 'years,', 'we', 'will', 'probably', 'need', 'only', 'selective', 'tactical', 'acquisitions', 'to', 'expand', 'our', 'geographic', 'reach', 'in', 'tobacco,', 'food', 'and', 'beer.', 'Through', 'these', 'relatively', 'small', 'sized', 'acquisitions,', 'we', 'can', 'acquire', 'good', 'local', 'companies,', 'upgrade', 'their', 'products,', 'distribution,', 'and', 'financial', 'controls,', 'and', 'then', 'expand', 'our', 'great', 'International', 'megabrands', 'from', 'the', 'new', 'base', 'we', 'have', 'bought', 'and', 'improved.', 'On', 'the', 'whole,', 'though', 'we', 'expect', 'capital', 'expenditures', 'and', 'acquisitions', 'to', 'absorb', 'less', 'of', 'our', 'cash', 'flow', 'than', 'the', 'five', 'years', 'just', 'passed.', 'f8vOS', 'EéGOr', 'Dennis', 'C.', 'Johnson', '&', 'Associates']