Agreed! And I like your reasoning, too.
There will be a point wherein we'll see some separation. Any energy MLP paying a distribution will be demonstrating its independence from other like entities given that they were unable to justify a payout for the last quarter. While ALDW is once again showing signs of life as a hi-yielding MLP, all I can go on for a reference is prior years of distributions. And then I backed out the 4% alteration in throughput as announced by the CEO. Will the payout be even half of my projection? I have no way to tell. But I'm in the camp of unit holders believing the company will try its best to come up with a fair and holder-friendly distribution. Historically ALDW has paid as well as any. I don't think the company will invite vexation at this point in time marked by lowered expectations and even mistrust.
So while we don't actually know numbers, we have ideas. In fact, if we add your expectation and mine and divide by two, we probably come up with something approaching a half dollar. I'll be quite happy with that or even less. I think the important thing is that we (the company's partners) trust our company to be fair and reasonable while not over-extending just to keep baying wolves from cannibalizing our investment vehicle.
Thank you for speaking your mind. The more input we get and share here, the better off we'll be and that speaks well for our company.
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