Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The recent downtrend in Centrica (CNA) shares (269p last seen) has found some resistance. They have bounced off a low 258p level where they were, on last year's dividend payout of 17p, on an historic dividend yield of 6.5%. Was the market assuming that a dividend cut was discounted or that the share was horribly oversold because there might be no dividend cut?
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