Thoughts on Puna Situation? What do you guys think will happen in regards to the Puna situation? Will Chorus loose the $15m or will Puna continue to operate and buyout Chorus?
As for the accounting BS some have been talking about, most people in the market should know by now that numbers in accounting can be twisted 1000 different ways. Heck look at last Qtrs. earnings on various sites and you'll see numbers that are different than the companies. Why? Darned if I know?
What I do know is that the payout ratio based on cashflow is 56% and based on earnings is 109%. Bottom line is the company uses cashflow to calculate their ability to pay the dividend (which many companies do) and from that perspective all is well!! They are paying the dividend out of cashflow , not using debt to pay out the dividend and are still putting money into the bank each Qtr. Sounds good and sustainable to me :)