RE:4th quarter - debt target pushed outYes you are right, it's disappointing and the market has responded as you might predict.
Yes, the company won't reach the debt target until 3rd quarter but it was never written in stone that dividends couldn't increase before then. I think this is a very questionable decision.
On the bright side, net debt has seen a dramatic improvement but the market is looking for dividends and yield especially when you consider that the prime probably won't drop below 4% for a few years. Right now GICs look good alongside the inherent risks of commodity pricing. It's certainly not a disaster but I would use the word obtuse.