Dividends tend to be more than JUST a line on the spread sheet. They go to the very essence of the companies' financial competence and the competence of the people who run it....including the BOD! Capex on the other hand, while important, does not carry the same urgency that continuing divi payments carries.
Furthermore these guys are newly appointed. The last thing they want to do is cut the divi.
The CEO, Lance, is a Petroeum Engineer...those guys tend towards being no nonesense SOB's and while I don't know Lance I'll bet he fits the mold. I'll bet your next divi payment he ain't gonna cut the divi !