"Cash Available for Distribution(4)

During the three and nine months ended September 30, 2009, we generated $38.6 million and $112.4 million, respectively, of cash available for distribution...

...our board of directors decided to reduce our quarterly dividends from $0.475 to $0.10 per share to retain a higher portion of our distributable cash to fund future capital expenditures ... Based on a dividend of $0.475 per quarter, our annualized dividend on the current number of shares outstanding would be approximately $128 million."

So this past qtr, cash available for distribution was $0.58/shr, comfortably above the old div. This quarter is a annual run rate of about $150 million/yr -- not too shabby for market cap less than $600 million, selling less than 4X cash flow. Even if you think the economy is going to suck for another year or so, should be finishing the newbuild program right as economic recovery starts to kick in.