Q: Huge and unexpected drop in stock price today that may be related too a decrease in the dividend.
For those who hold POU in a TFSA, do you see today's stock price huge drop as a buying opportunity or is the stock expected to be in the dog house for quite some time.
Thank you and I'll await your response.
Francesco
For those who hold POU in a TFSA, do you see today's stock price huge drop as a buying opportunity or is the stock expected to be in the dog house for quite some time.
Thank you and I'll await your response.
Francesco
5i Research Answer:
POU was ex-dividend on Tuesday for a $15/share payment. The stock actually fell less than the dividend amount ($13.62). The ongoing dividend has indeed been reduced (15c to 5c). The stock remains very cheap and we would be comfortable buying/owning it.