RE:RE:RE:RE:Added today - 7% dividend Dishonest wasn't the right word and not a fair characterization of CJ management. What I meant to say is they promised debt free status this year, but then deprioritized that goal funnelling cash elsewhere. Builders want to build and with cash in hand, paying down debt is ultra boring to them.
So they surprised with a change in strategy without telling investors until thr quarterly report and resulted in kicking the can down the road. This was a strategy that was well advertised with hard dates in the calendar. Consequently, my confidence in their ability to deliver on a business strategy was reduced.
JohnnyDoe wrote: riski wrote: Definitely not interested in CJ. They are robbing Peter to pay Paul right now to fund that dividend. They are going to have to do a divdiend cut if oil stays at these levels. I wouldn't want to own CJ when they announce that. Plus management was dishonest about the debt. What other negative news are they gonig to surprise with?
Compared with HWX which has honest management, no debt, hoardes of cash on the balance sheet, and dividend payable down to $45 WTI.
When a stock gets above 9% dividend, there is usually a reason why that will make you not want to own it.
harvester wrote: Cardinal Energy
What was it that mgmt said that was dishonest about the debt? Curious.