RE:RE:RE:RE:RE:RE:TDLowering the credit facility is one thing.
Saves the company money on standby fees for credit they may not really need.
Especially if they are not in growth/acquisition mode.
But to ask for a div cut (after they just had one) is not a good look (if in fact they were the ones that asked for it).
Bean counters need to realize perception goes a long way in investor confidance.
We are only talking about a few $million in savings for the year.
Could have easily agreed to review the div issue in a year after the first cut.
To have two cuts so close to one another tells me it caught the company by surprise (again, if it was condition of the debt renewal, which we are assuming it was).
my opinion only.
EbbFlow88 wrote: I don't think this one was a choice. At best a concession to creditors. They lowered the credit facility, have to lower capex and the dividend. Short term pain for long term gain, hopefully.