rammanThe TD report says
"Revised guidance is expected following the closing of the dispositions (expected by end-Q1), although it seems plausible that either the dividend, capex, or both get 'reset' to more appropriate levels for the current environment."
But a few lines later, they state "That said, Surge's business strategy has been clear at the outset, with the dividend taking priority, and as such, we believe that the company will exhaust all other options before a cut (including the creative transactions announced yesterday)."
So, TD is saying a dividend cut is likely to be considered, but only as a last resort.