Post by
Snowballer on Jul 27, 2022 7:06pm
I'm actually pretty annoyed - Yeah great quarter but...
- Over $1B still in debt
- Deferred dividend program beyond previous guidance (this makes me very dissapointed)
- With recession pain ahead, basically the waiting game continues for meaningful returns. 2023 and 2024 could be absolute hell for the global economy... we just don't know yet. And worse, by that time management could just as easily reduce a dividened and move back into acquisition mode. Essentially, and this is the first time I feel this way about BTE management, I don't trust their guidance on meangingful returns.
Like why such a massive pivot from the previous benchmark?!!! Probably because they may also see massive economic pain ahead. So while I agree that reducing the balance sheet preserves the "going conern" in hard times, how many oil and economic cycles do SHAREHOLDERS HAVE TO WAIT TO GET PAID?!!
Comment by
Snowballer on Jul 27, 2022 7:29pm
I agree, performance was killer. I disagree on messaging. They commited to a combination of buybacks and dividends at $800. The extension is bullshiiiiite It just adds risk and more unknowns. Back to your points - yes BTE is killing it with high oil prices... as they should.
Comment by
JohnnyDoe on Jul 27, 2022 7:36pm
so direct me to where they made that commitment? If you're going to say they made this commitment, show me where?
Comment by
calebmar on Jul 27, 2022 7:52pm
I have never heard or seen a commitment to dividends. Only increasing shareholders returns. Even that wasn't specified until today. Plenty of opportunities elsewhere for you to get a dividend if that's what you want.
Comment by
Konaboy on Jul 27, 2022 8:08pm
Off you go, then. This is a slower play. Until it's not.
Comment by
calebmar on Jul 27, 2022 8:33pm
I'm not looking for a dividend now. I was commenting on Snowball looking for one
Comment by
BayStreetWolfTO on Jul 27, 2022 8:31pm
Snow, they didn't say that. If you do find such a document please post. They have been clear.