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I can see no justifiable reason for cancelling the divi. The company has already earmarked it; they can obviously afford it, and it would be a kind of consolation prize to the shareholders who have taken such a hit on their investment.
Ex- dividend date is the 10 Mar.
Yes it may drop by the dividend amount, but that only holds in a normal market where the share price isn't crazily low. Sure, it's volatile, but it looks like only upside now. And whatever happens to the sp, the divi is guaranteed.
misled
This just illustrates the illogicality of the markets. Before today's announcement, the market did not believe CNE was worth more than about 205p, in case India didn't pay up.India's now paid up; so why is this only worth about 215p?