Divi28 Mar 2020 08:56
Investors pressure majors to cut dividends. The top five oil majors added $25 billion in debt last year, while hiking dividends. Now, on the ropes with oil in the mid-$20s, debt will accumulate much faster. More investors are calling for a cut to dividends. “Long term, it is appropriate to cut the dividend. We are not in favor of raising debt to support the dividend,” Jeffrey Germain, a director at Brandes Investment Partners, told Reuters.