Post by
ztransforms173 on Jul 17, 2024 10:58am
MyTake: MEG Is VECTORING Towards A 15 to 20 CENTS Q/Dividend
- it is 'HIGHLY LIKELY' that the BODs of MEG Energy will GRAVITATE towards a QUARTERLY SUSTAINABLE DIVIDEND of 15 to 20 CENTS per share
- this will result in ANNUAL DIVIDEND PAYOUTS of $ 162 to
$ 216 million
- the REST of the FREE CASH FLOW will be SHAREHOLDER RETURNS in the form of SHARE BUYBACKS
- the DIVIDENDS will be DECLARED following REACHING the NET DEBT TARGET GOAL of USD 600 million
- this target HAS BEEN REACHED (?) or is IN THE PROCESS of BEING REACHED in the VERY NEAR FUTURE
- there is a STRONG POSSIBILITY (?) that it will be ANNOUNCED in the Q2/2024 financial report on THURSDAY July 25, 2024 AFTER MARKET CLOSE {@ 17:00 EST}
z173
Comment by
robert41 on Jul 17, 2024 4:56pm
I hope not it's such a nominal amount I would rather see them buy back more stock and put in decent divi in 3 or 4 years. The float will be lower shares will be higher given $80 ish oil. A small divi will likely do nothing for the stock other than put head wind on it. It's certainly not enough to make anyone excited about buying it.