Another big buy at 2:25:59 PM - someone paid approx $252,104 dollars for 675,000 shares, mostly buying at 37.5 cents, which will give them a dividend of nearly $7,000 - that's an easy 7 grand dividend strip with low risk. The buying will probably continue until the record date.
There is probably some dividend strippers amongst the big buyers now, they usually move in, and especially for (fully franked) dividends in a growth company with a low risk profile. It's almost a gift for dividend strippers with some money behind them.
But there will also probably be some funds getting in early, and some wealthier investors, both of whom may stick around for a while, we will see. I wouldn't be surprised to see someone like the Pie Funds buying a few, and other funds for their dividend investor accounts.
Record date : 5 March.
By which time, I'd guess the share price to be around 43 or 44 cents, or a little more, which equates to a post consolidation price of about $3.50 - and I'm also guessing that within a year or so after this, the price might touch the dizzying heights of $5 or thereabouts, when the following year's dividend announcements are made.
Gw
SXY Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
