Have been a LONG TIME HOLDER of ERF..&..PWE..& HTE...With this latest development of cutting the div in 1/2..I always went for the DIV'S.. But this is too much..First ERF cancels the DRIP, then comes back for another DRIP for the Canadian Shareholders, TAX ADVANTAGE..Fidelity sends me a letter, If I wanted to Participate in this New 5% discount, and get into the NEW Drip..I refused..If I Remember right.HTE was going the same route (don't quote me)HTE cut the div..stock went down to about $9.00,,and they SOLD OUT to a KOREAN Firm..For the new people that might buy ERF..My Opinion..I WOULD BE VERY CAUTIOUS, about buying ERF..I Will Miss the Dividends..still holding 200 shares, from 3,000...Goose
My two cents worth; 7 percent on my money is way better than I can get at any bank. I was getting $540 a month; now I'll get $270. That's pretty good money for not doing anything to get it. If I don't sell the stock, I'm that much ahead every month. I'm not too worried.
I think i would begin to worry, for if you are like me i've lost over 60% of my investment, it will take 20 years for the dividend to make that up. ERF can never make up that much of a loss even if we have one of the coldest winters on record. I'm looking forward to working four more years added on before i can retire because of this mistake. I would think twice before anyone adding this stock to your list. Thin again buy and help this loser recup.
OH I AGREE..PROBLEM IS..THE PRINCIPAL TAKES A DIVE..AND YOU HOLD FOR THE DIV..I DID THAT TOO, TOO, TOO MANY TIMES...Went to PGP...18+Cents Monthly $share price 18- 21..been paying a div for over 5 years..pays on the 1st of every month..Goose
Until they stop the dividend even after saying they will maintain it, and you are staring at huge paper losses without any income at all. And no hope of recovering that capital loss for multiple years if ever. Not a pretty prospect. Spanish banks look safer.