We do have a small dividend for 2016. If you meant 2017, I'm guessing similar to 2016. The company has added generating capacity that the gamble is if it will pay off over time. Agree with the rest.
They put off the put exercise and kept half of the normal dividend. Not great near term signals. Just hope they don't trip across something.
Says it can probably be a good long term payer in th e 30-50 cent range. As some have said, need to get debt under control. Also there have been some (excessive) splits that would reduce some of the numbers.
Good reminder post. It all comes back right now to their signals about being tight with cash due to debt in my opinion.
I saw this post on a Seeking Alpha article and copied it here for all to see. Thought it was better than a link to the S.A. article:
CEMIG´s dividend history in US$ going back to just before the financial crisis. You can see why the stock has plummeted as a result of the stronger dollar and deteriorating conditions in Brazil.
year to date 2016 .137
Own a lot of CIG and have for a while, been averaging down on a regular basis. Dividend OK for 2016 considering the price. However see debt ratios have steadily been growing, and company is obviously concerned. Thoughts?
Actually I believe the Brazilian state that CIG operates in own about 50% of the stock of CIG. I don't think the divestment plan is aimed at CIG however.
well, EBR stopped trading on the NYSE closing at $1.96 on May 17. It started trading pink sheets on May 19 and today it's at $2.16............not too shabby
Cycles come and go where companies sell off assets and get back to a core business model. Obviously they need $ because they have some large debt payments due in the coming years. If they can sell off some assets are decent prices its never a good thing, but when the oil companies during the last few years were selling their assets they paid 5x for a few years prior - that's never good.
I don't see CIG having a fire sale of things, and electric companies have a little more leverage than oil companies at the moment. Brazil economy is just junk, so they need it to recover or start to recover soon (before 2018) so CIG can get back
It didn't give a list and first wondering if CIG might be a part of that...second, does that help or hurt the stock value?
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