RE:RE:VET mentioned on BNN again.How can VET be considered a very well company when little ol’ me knew 23 cents per month was absolutely unsustainable and would be significantly cut or suspended while at the same time the CEO was out proclaiming it was completely safe. How can VET be considered a very well run company when little ol’ me said immediately after the dividend was cut to 11 cents that the cut wasn’t enough. Even the staunchest cheerleaders on this board know it must be cut further but where are the executives? Where is the CEO?
The deteriorating balance sheet demands action. Oil in the $30’s demands it. Ultimately the lenders will require it. It’s no good when lenders are forced to call the shots.
Use this opportunity to buy quality energy companies and other beaten up quality companies with healthy balance sheets making sound, responsible decisions. Buy companies that understand the #1 goal of every business is to stay in business.
JMHO. GLTA.
stockmarket1 wrote: Yes, beginning April and beyond , payout for the dividend will be 11 cents. But it's anyone's guess just how long that 11 cents will last. If they do eliminate it, just how many will still hold onto Vet when you can buy Suncor or CNQ... 2 companies that will survive and still pay a nice dividend. Main reasons to hold equities are for capital appreciation and a dividend payout. If neither exists, then why would someone hold it? And, how long will A.M stick around if they actually do eliminate it? Just saying.
SKL6600 wrote: Everyone says the same thing about VET. Very well managed company and has great assets. VET is going to have to cut its dividend to zero by the sounds of it which really hurts a lot of us because that is mainly why we bought this company but we also need the company to succeed. We get the dividend this week from February so I'm guessing we will get news that it will be cut after next months divy. Here is the video from BNN and VET is mentioned near the end of the video. Cheers.
https://www.bnnbloomberg.ca/video/energy-stocks-best-positioned-to-survive-the-oil-price-war~1921619