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Just Energy Group Inc. Message Board

  • jamollamaman jamollamaman Feb 14, 2013 5:36 PM Flag

    div cut??? when was that announced?? plunge today is buyable, imo....if div is secure.

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    • "Our management team and Board of Directors regularly review Just Energy''s debt levels and our payout ratio. Management''s recommendation to the Board was based on the quality of Just Energy''s investment opportunities and the available access to the capital markets for funding our continued growth. The conclusion was that the long term interests of shareholders would be better served by a reduction of the current dividend to $0.84 per year, an amount which should allow us to reduce our payout below 100% in fiscal 2014, fund our growth and build a cash reserve to pay down our debt on maturity. This new dividend level still leaves Just Energy as one of the highest yielding investment options in our industry and in the markets in general."

      Executive Chair Rebecca MacDonald added: "Our Board of Directors reviews our dividend policy and capital allocation annually. In the review for the coming year, they considered the best long term interests of our shareholders and the management''s recommendations for use of capital. In line with this effort, we have elected to reduce our dividend rate effective the April 30, 2013 payment and reallocate our capital priorities toward what we believe to be high return investments that have and will continue to increase the future embedded margin in our contracts. As this margin is realized, we expect our payout ratio on funds from operations to fall into the target range of 60% to 65% by the end of fiscal 2015."

      In the news on February 7th with the earnings and div. policy

 
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