Tidewater Midstream and Infrastructure Ltd T.TWM

Price holding up well this morning - good sign

[Mephistopheles3]

Like you all, was expecting to see a big decrease on opening resulting from the exodus of dividend holding shareholders (and kind of hoping to pick up shares on discount).  
 

As of this morning, we're up 1% with not a crazy amount of volume.. so good sign to close out the year.  The NCIB is only kicking in January and so this is all just organic volume right now - once we get the share buybacks.. I think we'll start to see this get out of that $1 range it's been stuck in for 8 months or so.  

GLTA

[longrun86]

I was not assuming that there were a lot of shareholders that were here solely for the dividend. There is still much work to be done to unlock value so I expect them to have a busy 2024.

[Tyee1989]

I really don't understand why everyone expected a big drop today... they suspended a FOUR percent yield but they closed a transaction worth 150 percent of their market cap and announced a share buy back. I think the market is starting to look at the fundamentals here.... they will have zero debt and assets worth well over a billion dollars and the market cap is currently $435 mill.. IMO it'

[Mephistopheles3]

The fundamentals haven't changed at all, however typically regardless of the reason, any company that cuts their dividend gets hit on the share price following the announcement.  Small caps are even more volatile.    One example in 2022 was Syologist - ticker SYZ.TO which suspended their dividend in November 2022 in order to fund growth as revenues were really coming along

[Tyee1989]

Fundamentals have changed, this asset sale was INCREDIBLE for the company and helps highlight how rediculous the share price is

[goodbuddy]

Tidewater has 953.0 million in consolidate net debt, with the sale of pipestone 675 million, tidewater will still have 278 million lefet oweing.

[Tyee1989]

WRONG!!!! That includes Lcfs debt, that's $343 mill. Please check ur facts before posting. TWM HAS UNDER the $650 mill in debt.