Mullen has reduced its annual dividend by 20% to $0.96/share for 2016e. The 2016e payout ratio is 54%, and we view the dividend as sustainable. The Company also provided 2016e EBITDAS guidance of $200 mm to $225 mm, whereas FCC is forecasting $198 mm, as we are concerned with industry activity for oilfield services in 2016e.
17 Dec 2015
Mullen Group Ltd. (MTL) Reduces Dividend by 20%, Provides 2016e Guidance
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Mullen Group Ltd. (MTL) Reduces Dividend by 20%, Provides 2016e Guidance
Mullen Group Ltd. (MTL:TSE) | 0 0 0.0% | Mkt Cap: 1,516m
- Published:
17 Dec 2015 -
Author:
Ian B. Gillies -
Pages:
5
Mullen has reduced its annual dividend by 20% to $0.96/share for 2016e. The 2016e payout ratio is 54%, and we view the dividend as sustainable. The Company also provided 2016e EBITDAS guidance of $200 mm to $225 mm, whereas FCC is forecasting $198 mm, as we are concerned with industry activity for oilfield services in 2016e.