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Your are waiving your Entitlement to your dividend to then have that Entitlement used to purchase a certain number of shares based on market price plus 5% through a tender offer. If all shareholders waive their entitlement to the divi of 42m then $42m of shares will be bought through the tender and there will be no dividend to pay becuase everyone has waived their entitlement!!! Blimey guys.....
Aren't they saying we can either pay you the divi or we can use your divi money to buy back shares through a tender offer and give you the cash from that, so you would still get the same amount of money by end of march but you have helped the company buy back some shares to be cancelled? The definition of Shares in the RNS is actually the dividend payment, so you aren't selling any of your existing shares??
Next week is just a trading update, they don't normally announce the final Q4 dividend until the full results announced in March. Assume the price will drop 15% next week when a few PIs are up in arms becuase the trading update doesn't contain a dividend announcement, and so maybe they think company has stopped paying dividends.......
Indeed, Merry Christmas to all that celebrate it. Been a horrific year for DEC for all sorts of reasons, many of which seem understandable with a bit of hindsight, e.g. the rapid increase in interest rates. Kicking my self for deciding 2023 was the year I wasn't going to stress myself out with trading this one, particularly around exdiv dates, and just sitting and holding to take the divis, what a mistake that was.... hoping it comes good next year and at least with reinvesting the dividends don't need to get anywhere near the 1.32 I nearly sold for last November. Hope all have a great break and here's hoping 2024 sees DEC listed as a top riser in FTSE 250 rather than one of the top fallers as listed today on ii news......
They probably brought a number of institutions "inside" when discussing the possible US listing approach and felt this was material enough to halt BBs whilst this was going on. Now that and the quarterly results been announced free to start BBs again??
Well one thing is for sure, having got through all the FUD generated around trading and debt over the last few months, we now have the FUD mongers back with a new line of FUDing re DIs in the USA......what a shame
On the last earnings call Rusty also mentioned they could buu out the 48% interest that Oaktree Capial has in a few of the acquisitions as they don't want to invest any more. Could be an easy win and debt backed I assume, and maybe at a bit of a discount if Oaktree want out, cannot be too many acquirers of 48% interest in old wells that DEC manage
I think GG makes a good point. I didn't realise DEC had to actually physically deliver the gas to the institutions they have taken the hedge forward sale contracts with, until he pointed it out. I assume now there is a massive pipe that runs into their office basement and all the gas goes in there. Question is what do they do with it all? Maybe they put it into party balloons and let their employees take the ballons home with them so they can empty it into their gas boilers and get heating from it? But flummoxed