Statoil promises to avoid dividend cuts even though the money runs out. Professor of Petroleum Economics Petter Osmundsen is highly critical, writes DN.
He thinks it would be natural if the company found a solution with cuts in both operations, dividends and investments, combined with increased borrowing.
– Statoil chooses however one corner solution where the dividend is unclipped, while referring to flexibility in investment programs. It is thus the actual activities to be flexible while being rigid about the financial adjustments, writes Osmundsen in an email to DN.
He thinks it’s funny that Statol not more flexible on the financial adjustments.
– The reason for clutching dividend, although the financial results do not support this, is that Statoil share is known to pay much dividends and that there is a perception that shareholders expect it. However, it is by no means certain that it is sensible to Statoil exactly this kind owners, writes Osmundsen to DN.
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