Automatic vs Manual Dividend Reinvestment

[Kerim]

I just spent a little bit of time looking over my portfolio, and am inching closer to taking a few names off of automatic reinvestment. As I said in an earlier post, I am starting to come around to the logic of manual reinvestment, but as with most things, I am a slow mover. I am thinking it would make sense to stop automatically reinvesting on my higher-yielding names -- ones that I bought specifically to juice payouts, including REITs NLY and ARCP, and telecom FTR. I don't feel strongly enough about those to allocate new money to them, so perhaps it makes sense that I should use their hefty dividends to fund purchases of more core DG stocks. Then there is INTC. I've been strongly considering selling off more of my Intel holdings, so why on earth would I be buying more through automatic reinvestment? My only hesitation there is that my INTC is in a taxable account, and if I stop automatic reinvestment, I'll have to pay taxes on those dividends, right?

Any thoughts?

Thanks!