This article That came out today seems like a nice representation of what’s going on with XOM... all the internal issues of deceit about lack of “layoffs” would paint an even worse picture.
https://news.google.com/articles/CAIiEKBHhTEcv2B9ceb4qU_U_DwqFggEKg0IACoGCAowkqEGMJBZMNL5vAY?hl=en-US&gl=US&ceid=US%3Aen
12 replies (most recent on top)
The math is clearly wrong; dividend amount is what is fixed, not dividend yield. EM was never paying 8% yield when the stock was $80. Yield changes as stock price changes - so to say that dividend has already been cut is incorrect.
Not making a case for cutting or keeping the dividend, but lets keep the facts correct, atleast.
MindWillis, you must be a manager!!!!
You obviously have your facts straight!
Very good analysis.
The biggest fallacy within the XOM creed is to equate energy demand with oil and gas.
And the leap through “energy poverty” is even harder to swallow as purpose.
Not so long ago, a soon-to-be VP quit, and in her resignation email she described how the “fracking for plastic” work model wasn’t sustainable or appealing any more.
EM loves it’s “principles”. Used to be 100% reserve replacement and production increase targets. Now it’s the dividend. Time for Darren Woods to flex.
@fuw if you are a XOM employee...literally all that is wrong has been explained.....for all our sakes I hope you are being sarcastic....
Erm no ... because they cut the 401k match and kept the dividend. Employees have no value to XOM or any company really.
You might note - 8% of $40 is not 8% of $80 where the stock was a year ago.
So the dividend has been CUT.
Now - imagine if you could get the 7% 401(K) match with stock at $20!!
That's a deal huh?
Stock is going back up!
Seeking Alpha might not be “reputable” but where is it wrong? I found the analysis to be quite in line with what many of my colleagues talk about.
No way! Dividends must be payed to us else why should we own this stock. Fake news article guys! Darren woods is a visionary and a true genius! We have to believe in doubling the year 2017 earnings 2025! Else we might as well shut Exxon down. We are ExxonMobil.
More of an opinion piece than a hard news article - I don't know how many people would call "Seeking Alpha" a reputable source.
Not cutting the dividend is so misguided. Investors own the company. When a company can't pay its bills, the owners don't get paid either. Darren. Cut. The. Dividend.