RE:Best disguised dividend cut ever Definitely the right move. Pay down the debt and ensure that the dividend is viable long term. It's still a 6.7% dividend at todays price.
After listening to the conference call, it sounds like they are playing defensive for now and limiting losses in the near term as best as possible. Management has been through this before and unless something crazy happens, should get through this downturn again. I'm interested in hearing about their strategic review and how the new CEO moves this company forward.
Best of luck to all