Significantly undervalued?, page-6

Factually incorrect.

Page 15 of the presentation (and previous guidance) that this is an introduction to continued dividend policy.

"Dividend policy to pay out 30%to 40%, moving to a pay-outratio in excess of 50% in themedium term".

EPD is net cash with consistent cash generation. They wouldn't hoard the cash, either they buy new EPS accretive business, distribute dividends or share buyback (which I think they will introduce if the price stays at this ridiculous level).