RE:RE:New Dividend Rate, 5.25%Of course it is.
This was a message for angelnicky, who is focused entirely on dividend rates and blaming bad management, that I could not resist sending after today's 13% upward move in share price.
If you have read my past posts, I have been drawing attention to the discrepancy in Suncor's low price in the face of it's longer term rebound potential.
The extreme low share prices we have seen this last year were completely out of line with Suncor's longer term prospects, and presented us with a once in a lifetime opportunity. Kudos to those that saw this, and took advantage of it.
It has its capital investments already in place, combined with its long reserve life to satisfy increasing future demand for many years to come, and is now in a position to return significant cash back to it's shareholders with stable dividends and share buybacks while paying down current debt. The market was obviously surprised that this happened so soon, this quarter.
This backdrop presents Suncor with a very bright future as a very powerful integrated energy giant, as we face this oil and energy shortage we have before us.
As it's balance sheet grows, it will be in a position of strength and flexibility to secure and extend even more reserves, and be able to invest in the development of forthcoming net zero initiatives.
I have a lot of skin in the game, and although I see greater potential in Suncor's long term share price appreciation, I am quite happy to wait for it with my dividends now generating a yearly income well into 6 figures.
rad10 wrote: Please tell me this is sarcasm...... stock market isn't for everyone. I just can't tell anymore. I spent too long reading whacky posting from MJ small cap guru wannabes......
MigraineCall wrote: AngelNicky:
I hate to be the bearer of bad news, but today's massive 13% rise in share price has just lowered your rate of Suncor's newly doubled $1.68/yr dividend from a whopping 5.95% yesterday, to a mere 5.25% today.
Even worse, it is bound to drop much lower as the stock price climbs higher and higher with the share buybacks and increased free cash flows in the next quarters.
Please address your complaint to the bad management during the meeting.