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HUSKF - Husky Energy: The Dividend Was Already Risky Even Before Oil Prices Plunged
Husky Energy Inc.
Introduction
When oil prices began plunging last week it did not take Husky Energy’s (HUSKF) Canadian oil and gas brother, Vermilion Energy (VET), much time to use this as cover to reduce their already unsustainable dividend payments. Whilst they technically have held out longer, Husky Energy is very likely to follow this move and thus given the current very challenging underlying operating conditions, I believe that investors should expect their dividend yield to shortly fall to zero.
Dividend Coverage
When assessing dividend coverage, I prefer to forgo using earnings per