How about starting a pool on the new reduced dividend rate. I'll open the bidding with a rate of 80 cents Canadian/year. Anyone else want to hazard a guess? It could be as low as 60 cents, but I'll stick with the 80 cent number. When a dividend cut is made, it's usually at least 50%. I would guess at this point it's priced in at about the 80 cent level as the recent very high volume does indicates the stock is probing for a bottom. None the less, I wouldn't look for any big recovery.
PWE of recent weeks is actually dropping faster than ERF. I suppose one could construe that somehow as good news.
These boards are too funny,panic everywhere.....
This company is 25 YEARS OLD people,with a great history of doing the right thing.They will ultimately make the right moves and kick butt longer term.
Chill out people and take a xanax....
What sort of logic is div cuts are usually at least 50? The answer is you don't want to have to soon go back and cut again. You want to leave the impression that soon things will be getting better. You must be an investing tyro not to know that. Keep at it. Myself, I can't believe that I am still in this piece of expletive. It makes me think that I am getting senile.
Stay at .18,they have many things they could do before they would need to cut it.They have many assets they could sell and could also issue longer term debt which would give them tons of breathing room until natural gas prices recover.
The DRIP program being voted on next month will also reduce their payouts drastically.I will sign up for it if it comes available,you will get shares at a 5% discount to the market instead of the divi (for those who want it) when the DRIP is approved.
Higher oil prices would make a chance of a cut much less as well.
I surely pull for you to be correct on your dividend prediction and also will sign up for the stock purchase plan once it is approved and offered.. I have already received my PROXY electronically and voted "YES" for the new plan to be approved(think the next corp meeting for the physical vote & business at hand is May 15). I to believe that once Nat Gas bottoms(we are at new lows today), when it recovers(It will) it will go up as fast, if not faster, than it went down. Good luck to all LONGS.
I think we'll see a combination of a dividend cut to about .10 and reduced exploration activity. I think they'd be loathe to sell some of their property into a (temporarily, I hope) depressed market.