Actually ABN AMRO and Macquarie are the underwritters for the...

Actually ABN AMRO and Macquarie are the underwritters for the DRP, that means that investors who want cash instead of more units create a stock over hang.

ie, CEU gives ABN AMRO and Macquarie x amount of units, which they must turn into cash buy selling the stock on market. once they have sold the units CEU uses that cash to pay out the cash divs to clients that want cash. ABN AMRO and Macquarie get a 5% fee for their trouble.

So the reason the price is weak during the DRP period is because ABN AMRO and Macquarie are selling stock to raise cash to pay out the cash component for the div.

given we have seen a few days of good moves i wouldnt be surprised if the ABN and Macquarie are holding out a little as they want a higher price for the stock, given the markets are recovering they will probably make their 5% plus the profit they get, ie they probably were shorting the stock when it was going ex-div so they would get issued with more stock to sell so they could pocket the difference between what they get in cash and how much CEU actually needs.

This stock willbe $2+ by the end of the year i recon.