I do not believe that they will cut the distribution. But let's say for argument's sake that they cut it to $2.50 and the market felt they deserved an 8% yield. The logical price would therefore by $30.
The company should be buying back shares especially at this level. That would save the company a lot of cash. Michael Linn does not need a salary of $7,410,000 a year. Where is the Board? What are they thinking?
IMO they will suspend the dividend payouts, now that they need cash for their legal defense fund. The pps cannot drop 75%, and the company continue to pay out divi. And this pig is in the process of dropping 75%.