RE: RE: RE: RE: Don't rush inAgreed one of us has to be right.
I asked myself why did Citi bank came out today, and not when SLF warned on the 17th of Oct,
to warn of a dividend cut. Yes they were shorting since then, the shares tumbled since, after
they pumped and dumped it. Now they want to cover their short, so they are panicing Investors
into selling, so they can cover their short.
In my opinion, they will not cut the dividend.
1) SLF management has ample capital ( MCCSR ... 210)
2) After Q3, they issued $300M Preferred shares to strengthen the Capital further.
3)The Q4 write off is only paying the hedging cost in one lump sum.
4)No further write off in interest rate, unless rates dropped below 1.82%
5)markets and interest rates will go up in the future.
6) Management said they will not cut the dividend, and this is a very well
run company, so i believe them not Citi bank.
Only my opinion.