RE:CPG DividendThey will do acquisitions like they have always done which are anti dilutive and will help lower payout and lower their decline rate. As long as their target companies are under valued compared to them the numbers work. Payout excluding drip is around 100% for balance of 2015. Next year 26% more than cash flow but nothing new for them. They will repeat what they did this year..equity issue for cheap assets which improve their metrics. Lots of targets around in this environment.
If he cut his dividend it would weaken his ability to do deals as he has always done.
Issuing stock is not dilutive if it for an acquistion that improves cfps and payout and debt/cf. His deals are anti dilutive which is why the banks will tolerate it.
cheer
splurge