You can't cancel what they started now.
My point is simply that 19% without consolidation is not good enough. Even EPS growth evaporates for quite a few years with only $1.81 coming from aqua in 2019.
So they have to do everything in their power to increase it. Preferably a merger with a cash rich company, or a loan, or a deal with the JV partners, and the last option is a convertible bond with 10M shares. Otherwise, I'm afraid the company will come to a standstill. Sure, the $6 divi is nice, but after that?
I'm just afraid that they are giving away the 32% too easily. I must say, Challe started this discussion a few days ago. And I think he is right.
So now the question to management should be, what are they doing about it? If anything.
