This BOD, and hence this company, has little if any credibility with investors.

There is nothing to lose and everything to gain from getting out infront and commiting themselves to a policy of paying dividends based on MMP profits; regardless if that number is 1% of profits or 50% of profits.

Pre-announced Dividend commitments contingent on future events are not uncommon practices, and are often done specifically to provide Shareholders with investment stability and visibility.

What this company lacks due to it's leadership, is trust; trust and some reasonable level of certainty.