It appears that those are his interpretations from the charts on pages 6 and 7. The presentation does not specifically state his analysis.
"The big winners are West Coast refineries that are up and running. Earlier this month, according to Credit Suisse, regional refining margins hit almost $60 a barrel—higher than the oil price itself."
The dividend was just increased in April.
HOUSTON, April 29 (Reuters) - Exxon Mobil Corp on Wednesday raised its quarterly payout 6 percent, a move that underscores the world's largest publicly traded oil company's commitment to raising dividends, although at a slower pace in a time of lower crude oil prices.
I glanced through both the VGR and MHGC websites and cannot find anything saying that VGR owns 7.1 percent of MHGC. Could you provide a link to verify?
"If the merger closes after the close of business on June 10, 2015 (but before the record date for the company’s next scheduled quarterly dividend), a pro-rata dividend – equal to $.002967 per share of common stock per day after June 10, 2015 through the day immediately prior to the effective time of the merger – will be paid 20 days after the closing date of the merger to shareholders of record immediately prior to the effective time of the merger. Payment of a pro-rata dividend ensures that Pepco Holdings’ common stockholders continue to receive dividends at the current rate until the closing of the merger."