Braveheart Shares Plunge 77.7% on Special Ex-Dividend Date

Shares of Braveheart Investment Group plc (LON: BRH) today plunged 77.7% after the company’s shares went ex-dividend locking in the special dividend payment recently announced by the company.

The investment holding company announced on December 3 that it would pay a special dividend of 42.75p per share following the sale of its stake in Remote Monitored Systems (RMS) worth £17.4 million.

Investors who are on the company’s share roster at the close of business yesterday are set to benefit from the dividend payment scheduled for January 10, 2021.

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Today’s drop reflects the upcoming payment given that the stock fell by 42p (77.7%) at the open to trade at 12p before rallying higher to trade at 24p.

You will find some publications referring to today’s price swings as a 100% rally, which refers to the stock’s rally from 12p to 24p while discounting the initial 42p drop.

Braveheart share price

Braveheart shares today plunged 77.7% to trade at 12p having fallen from Wednesday’s closing price of 54p.

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