At $26/bbl, we aren't just cutting DEAD WOOD, but branches and limbs. Pretty soon, our tree will be just the trunk, and resemble the family tree of the infamous DEAD WOOD poster.
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Ahhhh it goes further than just the investing my friends. Shareholder initiatives and proxy votes are the keyes words. Chevron's shareholders are conservative/old demographically and will vote. They will get 20% turnout without much push. As Chevron continues ton stumble the dividend is Watson dorsn'the get F'd insurance.
I agree on the dividend not being cut this year. Chevron will float short term debt to cover and Debt to Equity is in great shape after a decade of 20 billion a year cash flow. Even the bullish oil guys are saying no rebalanced until late this early next year. Which means 18-24 months. Look at cash flow statement now. They will start to have to float 5 billion a quarter after a year....maybe more after we hear earnings call in a week. But previous poster hot out of the park. Chevron can not mess with investors. We all know price will tank...dividend is a huge psychological factor...hence always the message WE WILL NOT CUT!
@pol, your point is well taken and I agree that cutting the dividend is sacrilege. But you have got to agree also that it is unsustainable for much longer. If Chevron thinks this rout is ending soon, it's so off base. I know that very soon, the Biard of Directors will have no other choice. My position is... why waste time? Do it for once!
At 26 dollars now. The dividend will stay. It will be a virtual oil company before the dividend will go. 100+ year old company with strong institutional investors, no chance of cutting it. Existing staff (what's left) will be working on cardboard desks before dividend goes. Long term investors who stick with a company in good and bad are hard to come by. Getting employees to sign up with higher than average wages has not been a problem. Just kind of the facts. I have now shifted from 31 year employee to retired investor. Good luck to all.
You cut and cut and cut. Chevron using a $40 price is now down 18 billion at current price.
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We need to cut the kind of stupid employee who posts the same message twice because they can't use a simple posting board properly. We need to cut the kind of employee who thinks people responsible for Gorgon, Wheatstone, AMBU, Angola, GOM, Bigfoot and all the other awesome examples of Chevron perfection are NOT deadwood.
I've said it several times before and I'll say it again despite the naysayers, CUT THE DIVIDEND for once, pleeeease!
I agree. Cut cut and cut. Tough measures for tough times. If you owned a hotel and business was down 70% what owner would keep his existing staff???
I agree. Cut cut and cut. Tough measures for tough times. If you owned a hotel and business was down 70% what owner would keep his existing staff???
How can a tree still stand for all these years holding up that much DEAD WOOD? is what I ask!!