RKN should fall some of the franking value, as buyers for the special div would have factored this into their buy level. At 60% franking the div is worth 71.66c for franking users. RKN did a lot of work pre-div around $1.23 after the announcement, so fair price ex-div $0.66 for non franking users and $0.5134 for franking users. VWAP in Nov $1.23, Oct $1.29. Noteholders security is square as Nov have the div money on the balance sheet. NOV IBOA story great, they have made their own niche! Over time they can extend the facilities to anyone. Massive growth from here
NOV Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
