Ericsson wrote:https://www.businessdailyafrica.com/news/Equity-halts-Sh9-billion-dividend-on-Corona-fears/539546-5563718-qsnb18/index.html
Equity Group has cancelled its proposed dividend payout of Sh2.50 per share or a total of Sh9.4 billion, citing the need to conserve cash in the wake of the global Covid-19 pandemic.
“Accordingly, the board has passed a resolution withdrawing the proposed dividend recommendation and instead will be recommending to the shareholders that no dividend is paid for the financial year ended 31st December, 2019,” Equity said in a statement. “Therefore, the shareholders of the company and other investors are advised to exercise caution when dealing in the company’s ordinary shares on the Nairobi Securities Exchange, the Uganda Securities Exchange and the Rwanda Stock Exchange.”
Shorts better be in the money after this move. Liquidity of the futures market has increased tremendously from last year...easier to enter and exit. At some point my shorts were uncomfortably a big % of the overall market. Increased liquidity also means faster and better price discovery by the market.
The main purpose of the stock market is to make fools of as many people as possible.