RE:RE:CEO
autofocus111 wrote: My take is that the CEO was doing too much manouevering of late. Too many announcements (CO2 capture, the IPL bid, new LNG deal and TMX pipeline move with inigenous partners). Meanwhile effecitvely abandoning the JC LNG project and their plastics plant JV. He's been running all over the map. You can only throw so much chit at the wall hoping something sticks before the Board says enough is enough,... less plans and more execution. Buyout of VSN did not deliver all the goods promised which raises doubts about viability of the long-term planning. It all suggesta a lack of focus really.
I very much agree, I'm not that disappointed he is departing for what ever the reason, I'm interested in a new voice. It seems lately any large failures are gonna bring about changes at the top and we are just next in line. Look at CN and really they don't have many issues with other aspects of the company but a failed large play and it's an attitude that someone needs to walk the plank. As a shareholder of them also, I'm more disappointed in that decision than this one,
I like do like the current ideas for expansion, disappointed we lost the IPL battle, not pleased we shelved our polypropylene plant as I was excited for that, Jordan Cove was neither here nor there for me, I'm one of the shareholders who was brought over when I accepted the purchase of Veresen and I believe that was one of our projects. None of the announcements have really moved our needle as our slow trot upwards really is just a recovery. ENB, KEY & TRP have all recovered to pretty close thier prices 2 years ago, where as we are 15-20% below in our recovery, yet I believe we have the best future outlook, with the least burdens to overcome and it has not been reflected at all in our preformance.
My biggest interest at the moment is if they are gonna up the dividend to close the year. (which I don't expect they will) I had 2 main reasons for accepting and adding on to Pembina after Veresen, #1 size and therefore ability to execute on growth ventures which I wasnt overly expecting to go smoothly with Veresen but I was content enough with what they had, and #2 dividend growth of 5-6% a year, this year was a struggle and we are still 20% below our pre-Covid price, but there was disinterest by the board early in the year to move the dividend which I understood reasoning then and now we have continued to trend upwards, I would like to hear consideration or even a token move of half a penny now and maybe a bit more in a few months, I think a raise would give us a shot in the arm on a few fronts to reward the current shareholders and get non-shareholders more interested, all the hype seems to be on the producers right now.