Yes, if you elect into the DRP for the dividend declared today the maximum price that new shares will be issued at is $20.00. SNL usually sets an attractive cap as a way of encouraging DRP participation, which allows it to retain more operating cashflow to continue to grow the business.
If the volume weighted average share price over the five trading days after the ex dividend date less a 2.5% discount is less than $20.00, the DRP shares will be issued at the lower value.
SNL Price at posting:
$24.00 Sentiment: Hold Disclosure: Held
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