RE:RE:RE:RE:RE:RE:RE:RE:From the horse's mouth: "Why Pay a Dividend?"I don't think the dividend policy is putting your capital at risk. It is more the AECO natural gas price. Energy is a very volatile business where ups and downs are normal. Tourmaline, with no dividend, lost 32% over the past year while Peyto lost 47%. It may have lost more but no one can say it is the dividend. The main driver is the natural gas price.
Short term money should not be invested in any stocks as volatility is normal. If you cannot afford losses you should not be in stocks. If you notice Berkshire's main energy holding is Phillips 66. It does not do any exploration so less volatility. By November last year Berkshire had disposed all of its Suncor shares which is the largest integrated canadain energy company. It appears energy exploration is not his their game