Codan went ex:div today and that accounts for an approx drop of 20 cents per share if you include value of franking credits.
I suspect it is a number of shareholders insto's/funds that wanted the dividend and also wanted to take profits and today was the first chance to do just that. It must be remembered that Codan has almost doubled from its low these last 12 months of just $7.36 to last Friday night's close of $15.08 , so hardly a surprise once Codan went ex:div.
Codan is a great business with great management. It may soon return to its FY'21 All-Time-High of $19.43
Cheers......D
CDA Price at posting:
$14.14 Sentiment: Buy Disclosure: Held
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