GREY:AVNDF - Post by User
Post by
TimeBuilderon Dec 20, 2012 9:53am
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Post# 20754987
Dividend
Dividend CUT from .035 to .03....Thanks for that!!!!!!!!!!
DO current AVF holders get to vote on this BS????????
Dividend Policy
Upon closing, Spyglass will implement a monthly dividend of $0.03 per share with a dividend payout of 35% to 40% of cash flow (approximately $46 million annual dividend) and a target all-in payout ratio (including $80 to $90 million of sustaining capital expenditures) of approximately 100% of cash flow. The dividend policy will be reviewed monthly and is based on a number of factors including current and future commodity prices, foreign exchange rates, an active commodity price hedging program, status of current operations and future investment opportunities. Each dividend declaration will be confirmed by Spyglass in a monthly news release. Spyglass will consider implementing a dividend reinvestment plan (DRIP) following completion of the Merger.