Pumper(s)  don't address issues many CGG investors have.  First, its stock price moves up a bit and then drifts down showing  little direction. Second, with pumper(s) dazzling production and profit figures, it seems the company should reward its long-term investors with dividends. It has not.

Unlike its pumpers, CGG is transparent and addresses investors’ concerns. The company is moving forward but it hit a road bump in 2012.  Net income decreased from 82 million dollars in 2011 to 73.5 million in 2012. Basic earnings per share dropped from 20 cents in 2011 to 18 cents in 2012.  Revenue increased 7% from 2011 to 2012, but general administrative expenses increased by 44%.

The 2012 annual report states CGG “has no fixed dividend policy.” And with that rough 2012 bump in the road it is fairly clear why there was not a dividend. As an aside, CGG  will never pay a dividend until loan money for the year is completely paid. CGG also won’t pay a dividend before offsetting a prior year’s losses.

 CGG is methodically moving forward.  Although almost 40% owned by  China National Gold, CGG is still a Canadian corporation.  In fact, CGG explicitly states it has leases in Canadian gold bearing areas.