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03-10-2020, 06:41 PM
(This post was last modified: 03-11-2020, 04:22 PM by fenders53.)
(03-10-2020, 01:34 PM)stockguru Wrote: (03-10-2020, 01:00 PM)fenders53 Wrote: (03-10-2020, 11:56 AM)stockguru Wrote: (03-10-2020, 11:51 AM)fenders53 Wrote: (03-10-2020, 11:13 AM)EricL Wrote: No surprise here, OXY slashes the dividend.
Occidental Petroleum (NYSE:OXY) says it is cutting its quarterly dividend to $0.11/share from $0.79/share and reducing capital spending, citing the sharp decline in crude oil prices.
Occidental plans to cut FY 2020 capex to $3.5B-$3.7B from its previous plan for $5.2B-$5.4B, a 32% reduction at the midpoint, and to implement additional operating and corporate cost reductions.
"These actions lower our cash flow breakeven level to the low $30s WTI, excluding the benefit of our hedges, positioning us to succeed in a low commodity price environment," the company says.
Trading remains halted.
I didn't expect it nearly this soon! I thought they would wait for cooler heads to prevail in the Saudi vs Russia throw down. I really think it will happen inside of 30 days. Maybe the reality is OXY can't pay the dividend even if some normalcy returns?
Still a 3.2% yield - as 10 year treasuries yield .6% OXY is still a yield diva!
LOL, very nice spin Guru. I suppose it is if you entered in the last 24HRs. If you bought it anytime in the last ten years not so much.
Thank sometimes I do put in a few jokes here and there 
Reminds me of KMI, when someone hypes the good current Div I just want to throat punch them because I paid over 40 and the awesome div is about the same at sub 20. And yes vbin they probably did the right thing given the outlook.
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Colgate-Palmolive (NYSE: CL) declares $0.44/share quarterly dividend, 2.3% increase from prior dividend of $0.43.
https://seekingalpha.com/news/3550766-co...4-dividend
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Dollar General (NYSE: DG) declares $0.36/share quarterly dividend, 12.5% increase from prior dividend of $0.32.
https://seekingalpha.com/news/3550889-do...6-dividend
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American Tower (NYSE:AMT) declares $1.08/share quarterly dividend, 6.9% increase from prior dividend of $1.01.
Forward yield 1.98%
Payable April 29; for shareholders of record April 14; ex-div April 13.
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03-18-2020, 09:21 AM
(This post was last modified: 03-19-2020, 03:04 PM by divmenow.)
O has declared an increase in the company's common stock monthly cash dividend to $0.233 per share from $0.2325 per share.
I added under $44 this morning.
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I just came over here to ask if anyone was grabbing some O! Been a long time since it was in what looks like fair valuation territory...
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Still overvalued if you ask me, should be $40
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(03-18-2020, 10:27 AM)vbin Wrote: Still overvalued if you ask me, should be $40
Why should it be $40?
Started a position today.
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Darden Restaurants (DRI) suspends dividend:
Darden Restaurants (NYSE RI) reports Q4 results just ahead of what will be a dark period for the company.
The restaurant operator reports comparable sales were up 2.1% for Olive Garden, 3.9% for LongHorn Steakhouse and 4.2% for Capital Grille in Q4 off positive traffic and pricing contribution.
The board says it has suspended the company's quarterly dividend due to uncertainty driven by the significant reduction in effective restaurant seating capacity and other restrictions mandated by state and local governments in response to COVID-19. Out of an abundance of caution, the company is also fully drawing on its $750M credit facility.
Darden is also withdrawing its FY20 outlook due to the outbreak.
"With the drawdown of our revolver, and cash on the balance sheet, we will have approximately $1 billion in cash on hand," says CFO Rick Cardenas. "We believe this positions us well to deal with potential near term volatility under the current market conditions," he adds.
Source: Press Release
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Ford suspends dividend:
Ford (NYSE:F) announces a series of initiatives to further bolster the company's cash position amid the coronavirus health crisis and set it up to emerge strong on the other side of the current period of "acute" uncertainty.
Most notably, Ford is suspending its dividend.
The company also notified lenders that it will borrow the total unused amounts against two lines of credit of $15.4B to offset the temporary working capital impacts of the coronavirus-related production shutdowns and to preserve its financial flexibility.
Ford is also withdrawing the guidance it gave on February 4.
F -6.89% premarket to $4.19.
Source: Press Release
crimsonghost747
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I guess this is where we separate the good ones from the bad ones, those who planned for an eventual downturn of the economy and those who decided that we are in a forever long bull market.
It's quite horrible to see several companies stop dividend payments right in the beginning of it all. It might be more forward thinking than anything else but I'd be pretty concerned about companies cutting their dividends after a week or two of limited lock downs.
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(03-21-2020, 07:38 PM)crimsonghost747 Wrote: I guess this is where we separate the good ones from the bad ones, those who planned for an eventual downturn of the economy and those who decided that we are in a forever long bull market.
It's quite horrible to see several companies stop dividend payments right in the beginning of it all. It might be more forward thinking than anything else but I'd be pretty concerned about companies cutting their dividends after a week or two of limited lock downs.
I'm not familiar with how it works in Europe, but I don't think many are too surprised so far. Take a large cap struggling company over the past few years like F, GE, even T. Pension plans are just loaded with their shares. Also employees buying shares at a discount their entire 30-40 career. It was not uncommon for a retiree to have most of his net worth in the same company shares that always pay his pension check. Yes that is profoundly foolish. The dividend is all that matters. They try to maintain it way past when they should have cut it. F at $4 is actually fairly cheap. The stock didn't even dip (yet) when a huge yield went away this week. I would suggest if F had suspended their Div when the stock was $10+, we'd be down here at this SP years ago.
The list of companies with a rock solid balance sheet is about to get a lot shorter if the virus doesn't go away soon.
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