"At that price they could cut the dividend by 20% so it was sustainable and id still be getting 10% div after tax."
That's kind of my point. They are trying to maintain the dividend, but dipping into equity to do so. If they are forced to cut the dividend for capital management reasons, the SP will drop more or less in direct proportion.
My feeling is that this may take about a year or two to play out, during which the SP will be in the doldrums. It will present a buying opportunity at some point, but I don't think there is any hurry atm. Just my opinion.
All IMO.
SPK Price at posting:
$2.68 Sentiment: None Disclosure: Not Held
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