GREY:SGLRF - Post by User
Post by
PUNJABIon Oct 16, 2014 8:02am
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Post# 23033008
No news about dividend
No news about dividendLot of companies have already announced Div. I have not seen announcement from SGL. Normally they are the first one. They usually pay one to two day before most.
The delay could mean no div or cut in dividend. They are choosing a bad time to cut . The big slide in share price could is market related but the sharp drop to about $1.00 could be some know about it already. The price target of $1.00 from Scotia has become a reality.
With WTI around $80 for a while SGL is going to have problems. Huge debt & huge total payout ratio. I think DIV is gone.
RBC has come out with stress test for 2015 e for oil companies which show the impact of $80 WTI. I did not see SGL included in the report. I do not know the reason but they should have been included in Junior section. There are quite a few companies which will have to cut dividend. Among the intermediate group only one WCP would have effective payout ratio of 98 % all other will be above 100 % about a dozen with over 200 % there are some that will be over 300 % with WTI at $80 / b
SGL will not be the only one cutting the div if oil stays around $80 for a while.
https://rbcnew.bluematrix.com/docs/pdf/69380a37-4d4b-4623-93ee-2af696e08bce.pdf