Let's look at Telstra: Closing sp 18/2 (last day cum dividend) $2.96 Ex-dividend 21/2 $2.80 22/2 $2.80 23/2 $2.79 24/2 $2.77 25/2 $2.82 If we take the lowest sp of the week after ex dividend, 24/2 ($2.77) from the last day cum dividend ($2.96), the difference is $0.19, or approx 6.5%.
Granting SIP goes up to 0.50 (conservatively), retrace of 6.5% will mean 0.467cps, say .45cps.
Definitely NOT low 30s unless you want the price to go down so you can buy some more...
SIP Price at posting:
45.5¢ Sentiment: Buy Disclosure: Held