One of the items in the lawsuit stating what Equal has done says "An annual dividend of 20 U.S. cents per share, paid quarterly, has been instituted." Am I missing something in this? That means figured on a per share price of three bucks the dividend rate would be 6.66%. If true, that is remarkable and perhaps not sustainable. Is there a dividend now?
At this time we haven’t set a defined dividend policy other than we plan to pay US$0.20 for calendar 2013 on the basis of $0.05/quarter at the end of each calendar quarter. We obviously believe this level of dividend is sustainable over the long term.
Our Q1 payment will be declared in mid-Feb with a record date of March 1 and payment date of March 31.
Yes to answer your question about the dividend and very sustainable. Look at the amount of BOE/D this company is producing compared to similar companies in their peer group / market cap and you will see that EQU is doing just fine. The X Date will be announced soon on the first dividend of .05 for the first quarter.