RE:SucksThe problem here is not the dividend for an extra 34 M shares costing them another 12M a year in costs when they are receiving 650M in cash for the IPO. It's the replacing the barrels for the decline rate, When you have become a large oil company like Crescent Point, it takes a lot of moving rigs over sweet spots to make up the roughly the 40,000 barrels just to keep production even.
This is why they keep serially diluting, which they were doing at $90 oil nevermind $47 oil. You have to keep aquiring new barrels or production inevitably falls as well as earnings per share.
At $90 oil it's a lot easier to get away with, at $47 not so much. Clearly Saxberg didn't want to do this anymore, he said that a while ago, but the operations guys come to him in his office and tell him the reality of oil production and he ends up eating his words and shareholders pay the price................. again.