I agree that the sell off before the announcement is strange....

I agree that the sell off before the announcement is strange. The sell off today is no doubt led by self funded retirees who are in this one for the attractive dividend. No dividend then no use. In hindsight I should have joined them as along with ADH which had a similar announcement two days ago and QAN yesterday and more to come, those relying on dividends for income are taking a bit of a haircut this half and may be forced to cash in to make up for the dividend shortfall. Fortunately, the majority of my income comes from LICs which seem to have a greater regard to those relying on dividend income and of course don't have quite the same pressures of solvency as companies such as this.