RE:RE:GUTLESS !!!
The 400 millions are not cash; mostly, they are financing facilities that the company can draw on. Surely, you are not suggesting that they borrow money to pay dividends (although we are not far from that). They could have bought Ainsworth (when it was still available), shut down loser mills, and held on to profitable facilities. Similar opportunities are still available and are certainly preferable to fizzling away cash into unsustainable dividends.