GREY:TBTEF - Post by User
Comment by
WeKnowEnergyon Nov 16, 2014 3:39pm
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Post# 23134198
RE:Look out- Dividend Cut Coming
RE:Look out- Dividend Cut ComingPardon me they actually just increased their 2015 capital budget to $160mn
$170mn CF
$160mn CAPEX
$60mn Dividends
$50mn FCF shortfall
To cover the $50mn shortfall they would need to cut the dividend by 83.3%.
So I beleive the entire dividend is at risk not just a cut. This is the reality of many marginal oil sands companies with escalating capex and falling oil prices, it's a very ugly scene setting up for 2015.