dividend 1c

What effect would a 1c fully franked dividend have on the SP. My estimate would be in the order of 3-4c ie push it close 11c therefore would make the options received an exercisable option. Get an immediate 10+% return. It would possibly get 30% exercise of the options so would cost Adultshop $4.5m approx but they would receive $4.5 m from options exercised. So cash flow effect zero. But massive increase interest from dividend hunters. Sure they would have to keep it going but they are close to achieving that on this years results alone. Next year may be better.