After they decided to change business concentration and as a result were forced to reduce their dividend, development has been less fortunate.
A year ago, their stock price was just over $28 compared to today's price of barely $13. A comparison of the dividend over the same time period shows ¢65 compared to today's ¢18.
We still believe that the price will recover and with that in mind we have set a lower price where, despite our large holding, we will buy more shares. To then sell off the entire holding at our set target price.
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