RE: High Dividend of COS is a Red Flag WTI prices even after the big sell off remain over 10% higher than guidance which assume $.35/qtr in dividends. I do not believe management will reduce the dividend for that reason. It would simply be reacting to the market not the underlying fundamentals. When management delivers 1st quarter results albeit with lower production volumes it will also benefit from much higher oil prices. Assuming production is cranking up again I see no good reason at this point to reduce the dividend.