It payed a dividend of 0.39. That isnt what Fidelity has on its web site which is 0.83. Is there more coming out later today or what? I am in the dark here
This is the last para in the article.... note the last line.
I suggest u all read such articles till the end and dont jump to conclusions before..
Needless to say, this is somewhat of a contrarian play from Merrill Lynch. Given that these companies are the three main players in the frac sand business, any improvement at all in the overall industry should help to jump-start the shares or units higher. All three of the consensus price targets are higher than even the ambitious Merrill Lynch targets, so they are clearly not alone on this thesis. Investors should note, due to the industry slowdown, distributions could be cut.
By Lee Jackson
Am not sure if the news will be reported favorably or not.
Much of this bad news is already priced in.
The company must have made allowance for the monetary penalty already.
Would be interesting to see what the whistle blower will get or not.