RE:DIVIDEND They are not defending the divi. Two lines from 9 of the cc presentation seals the dividend fate. It is quite clear management does not think the current dividend is "appropriate". Below are the two points from page 9 of the presentation.
- Appropriate dividend level will optimize pershare cash flow and earnings growth
- Determine prudent dividend payout reflective of the asset mix and earnings and cash flow of
the combined company
Management is sending a clear signal. Divi cut by December.