Letter sent to CJ Management today I am a retail investor in Cardinal for some time now - your organization is doing a great job and I appreciate all the effort in making Cardinal one of the best energy companies in Canada. Cardinal is one of my biggest and most important holdings.
I am reaching out to express my thoughts that as an investor, I really would like to see a focus on eliminating all debt by the company as a priority over share buybacks. It would be a huge accomplishment for Cardinal to say it is debt free and the market and investors will take notice of this. I do have some concern over the maintenance of the current dividend and I believe getting rid of debt service is vital in meeting that goal.
Obviously those in control of the company put a lot of thought, analysis and research into how to address the finances but I thought it is important to get the perspective of the average person on the other side of the shares so to speak. I want to be a long term holder of Cardinal and your monthly dividend will be a key driver of my retirement finances.
Keep up the great work