RE:Well now there is some news I’ll accept as ‘positive’JayBanks wrote: Increased the dividend back to 2 cents, my question is how much will we see for an income number if it's covered or if we are still playing the game of pulling from the piggy bank?
If we see that we are covering with income I'll likely step back in.
I did expect a deeper and sharper impact of the dividend reduction rather than the small gradual step downs we saw the past several months. My expectation is still to bounce back and forth between 1-2 cent payouts unless the coverage gets very comfortable which may end up happening...
Well I'm staying out, that income number didn't come close to covering the payout...
Conversion AUD-CAD
1,535,637 x .91 = 1,397,429.67
Last time I ran numbers it takes 1,055,798.74 to cover a 1 cent dividend, this payout covers just over 1.3 cents of a payout, not 2 cents. (I would have liked to seen 1.5 cents coverage atleast to keep my interest)
June 1st 2021 the company had 7.5 million in its treasury on June 1st 2020 they had 8 million, now it has 5.6 million... doesn't seem too long before this party is over even when oil and gas is flying high.
Currently for holders the company piggy bank is only worth 5.3 cents per share...
Lets see what happens with the next announcement in 2 and half months...