RE:RE:RE:Since Peyto stupidly declared dividends for next 3 monthsChris,
I expect that we can agree to disagree on current dividend.
We both know that Peyto dividend is paid monthly, but indicated by management on a quarterly basis as 3 monthly increments. Your view that "When talking about Q2 dividend reference Q2 results" is fine for your view, but I would prefer to have Q2 dividends paid out of audited results. There can be many "mis-alignments" (of course within accepted principles) on accounting statements....... clearly a potentially very large one for Oil & Gas companies is Book Value reflecting the mis-alignment between a well purchased in a Take-Over vs. the same well drilled by the owner.
Again in a friendly manner, when you indicate that "most important is to talk (to you) about Q2, 2019 results" of course we all surely agree that the 2019 hedging is a very critical element, but the uncertainties of many variables makes Q2, 2019 results quite pre-mature, in my humble opinion, to disect at this time.... example: where the actual Peyto marketplace will be and for what percentage of their gas in Q2, 2019 is far from clear and at what price? irrespective of Peyto management's currently declared marketplace diversification strategy.
This year is not the first time that Peyto has cut the dividend and their success in "buttoning-down the hatches" cutting Capex, cutting dividend, etc., worked-out quite well previously. I simply disagree with your assessment of " incompetent" management even though the share price may be range bound($10 to $12 approx.) for the next 6 months. If the overall market goes over that impending cliff then the break-out would be to the downside,
Peace,
Good Decision-making,
ElJ