Post by
Canadude25 on Nov 05, 2016 3:30pm
Is management even calling the shots here?
I think the two large hedge fund shareholders are the ones calling the shots here. They don't want the drip gone or the dividend lowered. Market is hammering them becasue of the dilution and management knows it but are too influenced by the hedge funds who probably control the board of directors. Managements hands are tied...at least I hope that is the case otherwise they need to give their heads a shake. I took a small loss on this after I realized what is happening. Oil price can go up and the impact will be muted here becasue of the dilution. Talk all you want about hedging positions and no debt coming due for years, the share price will not rise until they stop the drip and cut the dividend. Just my opinion.