I am with you @PortfolioPlus - the change in dividend policy has shaken out those chasing yield. I see it as a buying opportunity as the metrics are still good and they are confirming the guidance range. They rarely underdeliver on anything. I am happy to see them grow and I feel that shareholders should not expect a company to hold back expansion so that a dividend can be maintained. If holders want the dividend to be maintained and the company to continue to grow and flourish they would then have to expect a CR or increased bank debt and personally I would not like to see either. So if a slight shakeout has to occur then so be it. Prudent management in my opinion.
PTB Price at posting:
67.5¢ Sentiment: Buy Disclosure: Held
