Liam Denning, Columnist

Genesis Energy's Unoriginal Sin

Cutting dividends while spending cash and promising buybacks won't win a higher stock price.

October 12, 2017 at 6:06 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

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Do me a favor: Read this excerpt from Genesis Energy LP's press release on Thursday and then answer a question:

Does that sound like a company that just slashed its dividend by almost a third?