Gone through quite a bit of transformation over the last 15 years. Feels they had a wrongheaded policy of trying to maintain the dividend in the face of drastic business changes. A lot of their coal-fired generators are being phased out. Need to build new ones and need to look for new opportunities. Feels they should cut the dividend and use the money to build a new, efficient power generation in the right jurisdiction. Payout ratio is almost 100%.
President, T.I.P. Wealth Management