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Just Energy Group Inc. (JE.TO), which dropped more than 11% and closer to year lows Tuesday with more than 2 million shares traded, issued a response to unusual trading activity in its shares. It said: "While the company ordinarily does not comment on market activity or market rumours, there have been persistent rumours that Just Energy needs to or intends to reduce its current $1.24 dividend. These appear to be driving trading and the company wants to ensure that its plans are clear to the investing public."

As regards its business, "Just Energy would like to confirm that it is not aware of any adverse change in any aspect of its operations or prospects which would justify the trading activity seen today. The company also wishes to reaffirm that early results for fiscal 2013 are consistent with the company's published guidance of 10% to 12% growth in margin and 8% to 10% growth in Adjusted EBITDA."

As regards dividends, the company said its policy is clear. "With the announcement of the Trust Tax in October 2006, it was perceived that all former Income Trusts must reduce their level of distribution to offset the incremental taxation at the corporate level. Since that date, investors have asked whether the then level of distribution could be sustained following the tax. At the time, Just Energy stated that its projected level of growth would allow it to sustain its distribution as a dividend following conversion and the growth seen over the period has allowed the company to do so. As regards fiscal 2013, given the published growth forecast and results to date, management can confirm that there is no need to reduce the dividend within the company's planning period. Accordingly, Just Energy reaffirms its $1.24 dividend."

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