RE: Dividends24 Aug 2017 14:35
I believe the close of the day before was 8.5, but you are right in principle.
The reason for the drop is that they are not taking on any extra cases. JIL's business income comes from the settlement of high value litigation. Once that is done, they get a windfall, and then pass this on to the shareholders in the form of a dividend.
They have settled several high value cases and not replaced them, meaning that the overall net asset value decreases once they have finished.