Hey brighteyes, i held this stock for about 18 months and sold out about 10 months ago, at $4.75 from memory. I bought in on the 20th of Aug and then again on 28th of Aug this year on the basis i expected it to run before going ex (my posts are on here from back then).
I was hoping it would run similar to it going ex this time last year when it got over $5.20, i made about 14% on it in the less than 2 months till today. The market has run strongly but i suspect this would've risen similarly if the market was flat.
The dividend is great but i am almost certain it will fall by $0.40 or so tomorrow, it fell heavily after going ex last year, that said this year it didn't run anywhere as near so hard.
I like the stock and bought it purely for the short term this time, it made up over 30% of my portfolio for a couple of months so i couldn't risk that it would again fall heavily after going ex.
I'm sure i'll buy it later after i feel its bottomed out, for those holding, good luck, enjoy the dividend and if you hold for the future i'm sure you'll be rewarded, the negative sentiment towards the financing sector will hang over the share for a while but will eventually clear and CIY will post good returns.
CIY Price at posting:
0.0¢ Sentiment: ST Sell Disclosure: Not Held
