Ah yes. I'm the fool who sold NCC one year ago when the SP was double today's price. What's your capital loss so far @vivRookie ? Negative 60% or more maybe? And yes. It was ex-dividend day on 24/3. Or what should be called "return of your capital day" in the case of NCC. In case you don't read the monthly report, NCC did not have enough cash available at the end of Feb to pay shareholders and noteholders. So NAOS sold 2,814,033 shares in SND to raise $3,498,086 in cash to fund both the NCC dividend and the NCCGA interest payment (and pay their own management fees). These payments all reduce the NTA of the LIC. https://hotcopper.com.au/threads/ann-change-in-substantial-holding.8504301/ In my opinion, NCC will struggle to continue to pay fully franked dividends going forward. No profits = No franked dividends. Will see how core holdings BRI, SND and HNG perform over the next 6 months, because if not, the dividend could easily drop to $0.01c.
NCC Price at posting:
33.5¢ Sentiment: Sell Disclosure: Not Held
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