Based on its projected future P/E ratio and the company's anticipated 3% annual growth after converting into a dividend paying stock, that means to me that the annual dividend that it is prepared to pay out after the conversion will be around 3% to 4%,  which will be about 50% to 65% of its net operating profits.  Considering that currently, Canadian oil companies are in a stressed situation due to the global economy, these figures can improve significantly for WCP when the oil market makes a turn for the better in the future.