RE:RE:RE:RE:RE:$13.77 ??JoeDev wrote
This is a Great company and Honestly , being a manager for 38 yrs I admire Management for postponing the dividend til they get their debt in order. Thats what good Management does. No one could have predicted Covid and oil selling for a negative price as it did one day. Besides dividend payers don't go up as fast as this one. You'll get 100 times the dividend in the share price when this starts up again. But their might be a lull in the share movement for a bit, so what.
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The fact is that the old management of VET payed out well over $400 million Cdn. in dividends for over 5 years from around 2015 when oil collapsed from around $100 to the $45 to $60 range where it remained for 5 years. If the dividend would have been cut in half when oil collapsed to $50 all those years ago VET would now have aprox. $1 billion less in debt than it currently has and would have sailed through Covid without a problem.
The only protection against a collapse in oil prices these type of oil producers have is to have their debt under control when oil prices collapse.
New management seems to understand this and are getting their finances under control and debt payed down over the last year or so with the cooperation of current high oil prices. Hopefully when they do announce a dividend it is a relatively small one and they use the rest of their large cashflow to pay down debt and buy new properties.
VET was once a market darling and if they keep doing what they are doing and oil prices cooperate the market will soon start to notice the debt disappearing and the huge cashflow piling up.
Judging from the shareprice that realization has been happening for awhile.