Great question and rarely comes up for whatever the reason...
CEO Mike Krimbill stated that he was hoping NGL could come to some sort of arrangement whereby the cut of quite awhile back could/would be restored, perhaps requiring incremental adds spaced over a couple of years. This was subsequently interpreted as the BOD's defiant stand in opposition to management and, as you probably know, Seeking Alpha went ballistic, angrily trashing the company and management. However, as we committed longs know well, we're making out handsomely thanks to the super-rich yield.
My take was one of pride---firstly because management was focusing on ways to enable the more lucrative payouts, secondly for the BOD daring to move in ways they believed would stand well in the shadows of difficult times for highly leveraged companies in the energy sector despite urgings from top management. I think they were right although I must admit an increase would have been nice, too.
That about sums it up, my friend.
Now, I'm not expecting an abrupt change in the amount to be distributed. However, any nod in the direction of planned increases would do enormous wonders for our company. This is why I say even a nickel---while hardly a lot of money---even that token amount, if you will, would restore a whole lot of confidence because it would represent a reversal of what had been a negative step several years ago while it would also force the yield to drop as well.
A five cent distribution increase as of this moment would likely drive unit valuation up to $12.50 or so with the yield dropping to about 13.5%, down from the current 14.70%. I'm convinced this would be the most perfect time for an increase in distribution as it would provide the means to better control valuation and public (unitholder) sentiment.
However, this is probably a pipe dream in my mind so please don't set yourself up with unreasonable expectations because of my fantasy.
Today is Sunday. Let us all prey. lol
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