After what I thought was a very good half yearly report, the share price plummeted to $1.75 or so, it has recovered 30c or so since but this was really surprising to see! with the dividend record date only 6 weeks away 31/3/15, I'm a little confused as to why so many shares were dumped after strong growth. Unless you really needed the money right away, wouldn't you be better off holding until the div date before offloading?
Unless people are manipulating the share price down so they can buy back in later (and thus obtain more shares) for the divvy payout?
This a very tempting price for such a proven/stable/dominant player in it's field who are paying a 100% franked dividend and still have huge growth potential in the share price.
My only complaint would be that the dividend is currently only around a 2% yield, but over the coming years, I can see this becoming a 4%+ yield.
Share price hammered after report
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Last
$21.28 |
Change
-0.120(0.56%) |
Mkt cap ! $7.593B | |||
| Open | High | Low | Value | Volume |
| $21.06 | $21.43 | $20.89 | $31.65M | 1.492M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1060 | $21.18 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.30 | 7639 | 2 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| SEK (ASX) Chart |