Hmm... yes... and no... WGX has paid a dividend in the past, but.... Cookie should have known better not to pay one when it's not sustainable via actual free cashflow (He should be ashamed really). I mean, he raised a huge amount of capital, then paid a dividend. In the future, I am sure Wayne and the board would like to pay dividends, but... now is not the time. WGX is transforming and its needs all the capital it has to finish the transformation over the next 2 years. If Wayne stays the MD over the medium term, I am quite excited to see what he can achieve with such an asset rich company, that most would agree, was run as a home business by Cookie (though I am sure many within the company did the best they could).
I guess patience is needed? As above, if WGX can truly become a cash generator, perhaps similar to say CMM (yet WGX has over double the production), then a sustainable dividend policy is a good outcome for all shareholders. Should be an interesting day for the sector, though... I am not a trader.
WGX Price at posting:
85.5¢ Sentiment: Hold Disclosure: Held
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