Sure, the Income + Depreciation + Amortization covers EDP's voracious appetite for capital expenditures. But there is no excess. Those juicy Dividends are funded by the Issuance of New Debt and New Stock, to the tune of Billions over the last two or three years. Guess what, unless the company can keep borrowing and printing new shares forever, the dividend are not sustainable, so ergo neither is the stock price. Wake up, people.