I sold yesterday and as for the dividend cut they only had a profit of .28 this quarter so don't be surprised if the dividend is stopped. I would like to know what insider sold yesterday and drove the price down like a sledge hammer.
The amount available to pay the ditribution is more than $0.28 a share. or $7 Million. They had over $10 million as available for distribution so we are still OK.
Depreciation is a non cash expense and is not calculated on the amount available for distribution, they only deduct maintenance cost to maintain the assets not replace them. MLP do not work as normal corporations, you will find many that pay more than net profit as distribution and never cut it. Since the World economy is improving I expect an improvement for Shippers also.