Cory Butcher Posted June 28, 2008 Posted June 28, 2008 They need to get rid of the Dividend and take the stock price hit. Grab the money they wont be paying out in a dividend, to help pay down debt, and then later reinstitute the dividend, or maybe cut it down a little. Companies that are 1.24 B in debt usually dont pay a dividend of 10%. They need to try something though. Quote
The Interpreter Posted June 28, 2008 Author Posted June 28, 2008 Actually, at the end of last year, they were $1.74 billion in debt...$1.24 billion is what they paid for Paramount Parks. They actually borrowed MORE money at the time to be able to keep paying the distributions. Quote
jzarley Posted June 28, 2008 Posted June 28, 2008 CF is in a rough spot...I definitely agree that a company with their balance sheet shouldn't be distributing a 10% dividend, but that may be the only thing that's keeping the stock as high as it is. They've made a lot of promises to unit holders based on that distribution... I wonder if Kinzel ever wakes up in the middle of the night and thinks "what have I done???" Quote
The Interpreter Posted June 28, 2008 Author Posted June 28, 2008 And during every conference call until very recently, Mr. Kinzel stressed how important the distributions were and the fact they keep increasing them... Quote
Lake54321 Posted June 28, 2008 Posted June 28, 2008 And during every conference call until very recently, Mr. Kinzel stressed how important the distributions were and the fact they keep increasing them... That wouldn't be because he owns LOTS & LOTS of units, wonder what his dividend check looks like? Quote
Cory Butcher Posted June 28, 2008 Posted June 28, 2008 And during every conference call until very recently, Mr. Kinzel stressed how important the distributions were and the fact they keep increasing them... That wouldn't be because he owns LOTS & LOTS of units, wonder what his dividend check looks like? I never, ever thought of that. You just made me smile real big Lake54321! Quote
Captain Picard Posted June 28, 2008 Posted June 28, 2008 And during every conference call until very recently, Mr. Kinzel stressed how important the distributions were and the fact they keep increasing them... That wouldn't be because he owns LOTS & LOTS of units, wonder what his dividend check looks like? I never, ever thought of that. You just made me smile real big Lake54321! I would guess that it wouldn't be as much as the loss from the fall in stock price. Quote
jzarley Posted June 28, 2008 Posted June 28, 2008 ^ I'd say you're right on that one... Based on the units that Dick Kinzel personally owns (according to the SEC filings), every $1 decrease in stock price decreases his net worth by a little over $1.3M. Quote
Lake54321 Posted June 29, 2008 Posted June 29, 2008 And during every conference call until very recently, Mr. Kinzel stressed how important the distributions were and the fact they keep increasing them... That wouldn't be because he owns LOTS & LOTS of units, wonder what his dividend check looks like? I never, ever thought of that. You just made me smile real big Lake54321! I would guess that it wouldn't be as much as the loss from the fall in stock price. Well I guess, but considering he really never PAID for most of it anyway. Most of it was given to him in his bonus package every year. Quote
The Interpreter Posted June 29, 2008 Author Posted June 29, 2008 Well, I am sure Mr. Kinzel would say it wasn't given to him. I am sure he would say he earned it. And I bet the IRS agrees..... Quote
tigellinus Posted June 29, 2008 Posted June 29, 2008 Based on the units that Dick Kinzel personally owns (according to the SEC filings), every $1 decrease in stock price decreases his net worth by a little over $1.3M. That sure is a lot of nickles!!! Quote
crazypkikid2005 Posted June 30, 2008 Posted June 30, 2008 Well, I am sure Mr. Kinzel would say it wasn't given to him. I am sure he would say he earned it. And I bet the IRS agrees..... The only thing Kinzel has ever earned is a slap in the face. Quote
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