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re: Shell cuts dividend for first time since WW2
Posted on 4/30/20 at 9:48 pm to slackster
Posted on 4/30/20 at 9:48 pm to slackster
quote:
Not really. Speaks to cash flow management.
I might be misunderstanding your stance here, but they could have covered the dividend without cutting it. Their free cash flow was up considerably YoY. From what I’ve read so far, this was more of a forward-looking decision.
1
Posted on 4/30/20 at 10:58 pm to lostinbr
quote:
I might be misunderstanding your stance here, but they could have covered the dividend without cutting it. Their free cash flow was up considerably YoY. From what I’ve read so far, this was more of a forward-looking decision.
They clearly don't believe they could continue to do that, hence the substantial cut. Their CEO explicitly said they'd have to borrow to pay the dividend. They've borrowed to cover it in thr past, as do many other majors.
My bigger point is Shell's decision doesn't necessarily mean this downturn = the worst since WW2. It's an independent decision. If Chevron and Exxon follow suit tomorrow, you may have a point.
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