HWO seeks new "value enhancement" strategyThe cynical take:
In order to get back at share holders for resisting/torpedoing the board of director's announced "value enhancement" scam, the board of directors has decided to stick it to them and tank the share price, by:
1) Cancelling the dividend, which;
a) irritates all the share holders that liked the idea of collecting a dividend while sitting and waiting
b) dissuades any potential dividend investors from buying shares
c) encourages share holders to dump their shares as they realize the board of directors cannot be trusted to do what share holders want them to do.
and the "coup de grace":
2) Call the previously announced special dividend into question. By deciding to "weigh balance sheet strength", the share price should get tanked even more, as share holders can no longer count on a big 75c per share dividend, as the ambiguous wording calls it into question.
Isn't this great. This is why we pay them the big bucks to run the company for us.