RE:RE:RE:RE:RE:How much is enough ?Completely agree. A year ago this stock was trading at $1.57. It's now more than 4X that. Paying down the debt now puts the company in a much better position to continue paying a sustainable dividend if/when oil prices drop. Funds currently going toward debt servicing charges can ultimately be used for better purposes. More importantly, it gets the banks out of the picture. CJ would have had a much better year last year if the banks hadn't forced them to hedge so much.
The plan they laid out a few months ago made sense then and it makes sense now. I can wait a few more months for a dividend if the net result is a strong balance sheet and higher FCF/share.
ygdrasil wrote: For every shareholder willing to sell, there will be 2 ecstatic to buy shares of a company with no debt and sky high profits. Be patient. If you're not getting the money in dividends, you'll get it in terms of share price. Share price drops with every dividend. Share price rises if a company is printing money and keeping it. Just look at Apple over the past few years.
ronz wrote: Plain and simple, it doesnt really matter what you or I say, but if they dont address the dividend soon with profits, share price this high and a price of oil over $100+ per barrel of oil, this will get abandoned by shareholders because it speaks volumes that they don't care about their very patient investors. All of the other stocks out there from the canadian oil markets are providing dividends to their share holders. Anything else shows greed and total disrespect to the share holders.
Many other companies out there are providing a dividend with a much higher debt level, so having a debt level of 100 million is actually very low when compared to a lot of the others who are taking care of their share holders. It's time!