For the MLP fans, Suburban Propane Partners (SPH), which has a dividend yield of 7.10%, announced an SPO after hours of 2.7 million common shares. The pps is down $2.00 after hours, after being up $0.53 today. The ex dividend date was 5/3.
I looked at data going back six dividend cycles. It hits a low in the cycle most frequently about the tenth of exdividend. The timing of the secondary is perfectly situated on the seventh day making thursday about the lowest day for pricing. It might get an enhanced dip in this sluggish market that seems to be punishing dividend payers again. I am looking for sideways action for the rest of the quarter now that 90% of the S%P500 have reported. The thing to learn now are signals for sector rotation. Oil is out, building materials are out, Pharms seem to be in after being out for two weeks. Good timing because my favorite pharm ALKS reports soon and they always have more to report than the y on y quarter.. Tech, I can never tell. Seems to be on an upswing.