Below doesn’t sound like a complete cut in dividend is likely
Angeliki Frangou quotes from August 2015 conference call:
*We have been paying a dividend for over 10 years and remain one of the few companies that have consistently paid the dividend even in a volatile and dark market.
*In fact, we have been meticulous about retaining capital to our investors and we have retained about $365 million through dividends and stock repurchases since we commenced this program.
* I think we have of that 365 million that we have over that last ten years, we have given back to our shareholders about 265 is in dividends, with it had said that from the beginning at the time it [Indiscernible] and we gave a consistent in 100 million in buyback. So we view both way as a effective and you have seen us do that in multiple ways.
*the company continues to provide returns to the shareholders through its uninterrupted dividend
*what we have done in Navios Holdings in essence we have a diversified portfolio, so you have a dry bulk company, but two-thirds of your value comes from other areas, be it tankers, product tankers, container and port. So two-thirds of our value comes from there. Sources of dividends are from there. So, that gives us the ability to weather a – gear low in the dry bulk market, not only whether it be a low but also do investment.