I'm surprised the dividend was cut by 75%, I was expecting 40%-50%. I hope KMI uses some of the cash flow to buy back shares (preferably the preferred shares) while the price is severely depressed.
The company still has solid assets and strong cash flow. I plan to initiate a small position now that the uncertainty around the dividend is gone.
The company still has solid assets and strong cash flow. I plan to initiate a small position now that the uncertainty around the dividend is gone.