No. The stated purpose was to retain some profits to help grow the business. They are moving into UK and additional regions in the US and obtaining additional consumers is a cash-intensive process. Additional consumers equals increased revenue.
The following information is from the JE website. Amateur investors and experience ones have to read all the public material on a company before they plunge in big time. With the Internet you can do this in half a day. I purchased my shares (5.99-7.01) based on the dividend cut announcement. The short sellers took advantage of people's ignorance. Remember the adage "If you think education is expensive, you do not know the price of ignorance."
: TSX: JE.
FOR IMMEDIATE RELEASE
JUST ENERGY GROUP INC. PROVIDES DETAILED
FISCAL 2014 GUIDANCE
TORONTO, ONTARIO – March 25, 2013 - - Just Energy Group Inc. (“Just Energy” or
the “Company”) a competitive retailer of natural gas and electricity today provided initial
fiscal 2014 guidance and commented on recent market activity, specifically the
Company’s recent share price weakness and elevated trading volume.
The Company had previously guided that, based on its current $0.84 per share dividend,
its payout ratio on Funds from Operations (“FFO”) would be less than 100% for the year
ending March 31, 2014