RE:RE:No Divy increase meanwhile Management issued themselves 15m So they bought back 12 million and issued 15 million stock options. That’s great for management. Actually they have done a good job. Costs are down yada yada.
What bugs me is they obviously feel they should be rewarded - after all it was very painful to take that trip to $14. However they weren’t the only ones along for the ride.
I remember the day last year they cut the dividend. The price tanked. That was a kick to the stomach.
So now the yield is 3% - not that bad in a world where you can't get to much guaranteed yield. However if you bought at $50 your yield is more like 1.6%. For the shareholder who bought at that price Suncor management just told them thanks for investing – sucker- enjoy your 1.6% yield!
Really they are so proud they bought back 1% of shares. Well if there are 1% less shares out then why didn’t the dividend go up 1%?
Even increasing the dividend by a symbolic $.02 a quarter would have really helped rally the moral among the troops.