This is over my head. Should I change my shares over? I have 1000 shares of each line and lnco both at big losses. Owned for a few years so have lowered my cost base, would that be lost in the change? Would it now be a short loss over a long loss? If I switch how will or can it hurt down the road? Help if anyone really understands this.
I realize there is no legal recourse and the dividend is not guaranteed but, #%^##, I just bought some more of this after rereading the CC a few times and being conned into believing the dividend was safe. Here's answer from the last CC from Peter Evensen CEO in response to a question about alternatives to funding growth.
"How we are thinking is that we will prioritize projects that give us our hurdle rates, and that work with our new cost of capital. And that's our strategy, rather than try to look at it differently. *We continue to believe that with the dividend and with the stability that we have we will continue to see the unit price come back as investors realize that we do have a stable distribution*.
That last line sums up the general sales pitch of the CC. Lowering the dividend one month later by 80% is NOT stability. Didn't Madof say one thing and do another?