Cardinal Energy Ltd (Alberta) T.CJ

10% Salary Reinstatement

[Info101]

Effective Sept 1, Cardinal employees will have 10% of their 20% salary rollback reinstated. Interesting decision by management....does this mean Cardinal's dividend will be reinstated?

[Backinblack1000]

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[mlcb2525]

This is a positive. They would not have done it if the situation is as dire as some people imply in some of their posts. Certainly, if there was even a remote chance the banks would be pulling the plug on CJ, this would not have happen. Possible light at the end of the tunnel..........

[traderlong2]

Also Remember all of the wages are being covered by the goverment in the lastest wage subsidy for canadian business if your revenue was off 15% or greater you qualified each month since April they also have recived money for the abandon well program I think the boys running things are pretty smart and well invested in CJ I have continued to add I also expect some financing Backing or Guaranties

[yggdrasilll]

Have they received government money already? I knew they had applied for various things, but I thought they were still waiting for it to actually come in. I thought that was what the banks were waiting for to extend the credit facility in a meaningful way.  

[JohnBP1]

Yep good news I think, now they have to do something for us shareholders that have stuck with them through this. Even a small divi would boost the stock..   Hey CJ  SMALL DIVI PLEASE...

[yggdrasilll]

At this point, I'd rather the company just pay down more debt so that they can come out stronger with a more stable dividend. Reinstating a dividend now would just give the shorters more fuel. The shareprice is just so low, they need a few solid quarters at $60 WTI before thinking of a dividend.  

[JohnFriesen]

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