This is the type of news I was referring to in my earlier post about OIL companies cutting dividends... So even if the share price right now looks like a bargain - they could fall further when the dividend payout doesn't provide support like it can and does many times.
Linn Energy LLC (LINE:US), the oil and natural gas partnership that’s lost almost 70 percent of its value in six months, cut its investor payout and production budget by more than half amid a rout in crude prices.
The company and its affiliate LinnCo. LLC will lower the annual payout by 57 percent to $1.25 a share or unit, Houston-based Linn said in a statement today. Production spending will drop 53 percent from last year, to $730 million. Internal cash is expected to cover both, Linn said.
|
Brian Hobaugh SCCA National Tour June 2014
First Hemi 'Cuda Convertible Ever Built
Short clips: Goodguys Pleasanton autocross and pit videos
Threaded Mode