Curious perspective: The company has all but ki-led chances of promotion with this new approach to business approval for increase of an individuals grade. You need to have some serious power behind you now if you want that next pay grade - GOOD LUCK! Seemingly, at the same time there appears to be a lock down on performance of wealth, the executives down to directors/RLT receive stock as part of their performance, and not that ridiculous new VCIP rule that you just about can't cash in because they're rolling people out through the night, but a spot bonus as a result of their grade. Dividends are being paid out at a huge sum, while alot of the stock is owned by the uppers who none of us ever see. It's almost as if the money is moving to individuals through the stock attraction of high dividend. I admit, I'm not economist but why are we do eager to pay out the high rate when we are still struggling to get our cost per barrel down?
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IMO this appeases Elliot, which is why they're doing it.
The death of in job promotions will be the death of internal experience and talent. Rewarding those who grow here vs grabbing the transient worker job hopping to fill every role. Probably the worst policy change at P66 these days. Unless i misunderstand it.
This last quarter? About $750mm
How much debt are they taking on to pay dividends?