Seriously though…almost half a Bill per year in Divy’s
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JC has CTE 100%
The great thing is that after they diluted the stock with the Calllon acquisition the dividend is now more expensive.
And as a fun fact: at the current dividend JC pockets another $200k+ a year on his holdings.
Back in the early days of Project Ascend, someone asked during a town hall in Midland why—instead of cutting employees and such—management wouldn’t cut the dividend.
The region VP replied (paraphrasing) that a CEO who cuts the dividend shows Wall Street that they aren’t fit to even manage a hot dog stand.
Leaving aside the obvious—as the dividend was eventually cut, albeit after a lot of employees suffered from the CEO’s (and various VP’s) ineptitude—to answer your question, no, APA can’t afford the current dividend.
It hasn’t been able to afford it for years, and yet it keeps paying it out.
And APA will likely keep paying it out, and selling off assets that would otherwise fund the dividend, until it bankrupts itself.
Such impressive management. Why, they are so good, they should be managing a whole slew of hot dog stands.