foodland to drop - going ex dividend 46c on mon 29

FoodLand to drop - going ex dividend 46c on Mon 29/09 At its closing price of 18.73 or so today, pushed up largely by those wanting to qualify for the dividend.. I can see how JP Morgan came up with their assumption that FOA would trade under $18 soon. On top of their downward revision of earnings, you only have to subtract the 46c dividend from and estimated opening price of $18.65 or so and we are already looking at a drift toward $18.19

Given downward earnings revisions, increasing competition, lack of organic growth and a dividend of 46c its not hard to see it below $18

It's not rocket science.. So if you own FOA shares then you may want to consider your position for taking some profit prior to the ex dividend selling rush just after Monday’s open :-)