RE:NO dividend increasepierrelebel wrote:
Clearly I am not too happy with WCP not increasing the monthly dividend as they had previously explained.
I understand WTI has been down for several months and interest rates have gone up more than they expected. Good and valid excuses. However management should have issued a press release explaining it.
Still holding but unhappy with lack of communication.
Agreed, still holding to but totally agree re lack of communication. Easy for the top dogs, their always in the loop so know consistantly where they stand. It still plays on me when they kept telling us when they hit their debt target of $1.3 billion they would increase the dividend and return more to the shareholders. Then out of the blue they announce the XTO acquisition in August this year. Barney commented that he thinks it will be the middle of 2023 when they meet their target debt and can increase the dividend with additional return of %75 of free funds flow back. The fact is ,that will be 10 months from their original statement regarding rewarding the shareholders. We also need to keep in mind who we have for a PM, he has run us into the ground, and now were suffering the biggest inflation numbers we've seen in years, and by the way, continues to give tons money away everytime he goes on the road. You never know what this governments going to do next and then we have the U.S who has Biden, dont't get me wrong, he was a better choice then Trumph (IMHO) but has done nothing for the oil industry except to help push it backwards. There's a lot that can happen with these governments so June is a long way out to see a more reasonable return. Again, I see the logic behind the XTO purchase, I was just dissappointed in the timing. I do believe in this company but quite frankly I stayed in because of the hope of more returns to us the shareholders. Shop around, you can get a little better than 4% now with a GIC at 18 months to two years and no risk! Im not going anywhere at the moment but just a little frustrated and Im sure Im not alone. WCP has always been known to under promise and over deliver but thats in the past where I sit. I will stay optimistic for the next couple of months but notb sure after that.
GLTA
GLTA