"it would take a lot of courage to buy for the dividend later today because you could be holding a stock in the red for several months."
If you're a short-term trader than I can see your point, but for a lot of longer-term cash-flow investors I completely disagree. At around 9.5% fully franked (tax credits included) on current pricing, there's going to be an absolute ton of people who couldn't care less about a short-term share price move into the red.
I'm fully expecting a pull back after the ex-date (as per normal) and if I've got some stock sitting in the red on paper, then pffftt.. A sneaky Covered Call will soon pull a bit more cash out of the equation.
WBC Price at posting:
$21.48 Sentiment: Hold Disclosure: Held
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