RE:RE:CJ Cuts Dividend To .01 TonightCJ make a hasty decision. At tonight's oil close the div is sustainable. At least CJ should wait after the OPEC decision tomorrow. The PR is also bad. If they have confidence they should say div will be back up at 35 cent by April if WTI > 55 etc.
CJ has very large % of WCS and that's the main problem. CPG is much better , only 20% FOS related to WCS.
BTW, differentials start to blow out when the Transmountain Expansion got killed. I just wonder can oil investors like CJ shareholders file a domestic claim against those people who block the expansion in court ? Anyway I have no sympathy for those protesters paying huge legal fees that incurred when they go to court when they are arrested when blocking the pipeline.