Its a bit weird. The takeover offer was 63 cents, and was unsuccessful in getting 100%, in fact well short of it. The SP has dribbled down on low volume. Dividend yield if maintained is fantastic at the moment ( at 59c share price) if the franking is included. Around 12%. So I have waded in today with some more purchases. There was a seller of 10,000 at 59c. I put in an order to take this out, got them, and the 10k at 59c is still there. So I thought maybe I got them on ChiX and its not shown on Comsec. So I went in again for that 10k at 59c, got them, and lo and behold the bugger is still there with the 10k at 59c. Hmmm. I'm now thinking the stock is being played , hold it down sub 60c then ???? maybe another bid at say 70c. Anyway , its okay, I'm really in it for the dividends.
PGR Price at posting:
59.0¢ Sentiment: Hold Disclosure: Held
