Feel free to enjoy your gigantic dividend, the SP will still fall on the ex-date obviously. Increasing your dividend in a time of crisis is a beyond foolish decision. This is the time Magellan should be conserving cash, fixing issues and thinking of investing in new lines of business to diversify bleeding FUM fee revenue.
But no of course not, let's appease shareholders with a big fat divvy instead and not have any future plan. I couldn't believe what I read was their outlook in their presentation.
They're going to be having calls and webinars as part of their growth strategy. Wow.
Feb divi, page-18
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