Ex div. day was 4/1, and the dividend was 21 cents. On 3/31, the stock closed down 23 cents. On 4/1 when it went ex the 21 cent dividend, the stock was down 33 cents, 12 cents more than the dividend. On 4/2, ti dropped another 23 cents, and today it is down a further 31 cents. How do you explain a $1.10 drop on a 21 cent dividend.
Volume already is 2 1/2 times average 90 day volume, and the market remains open for another 2 1/2 hours. In the meantime, management is tight lipped. I hold numerous BDCs, all of which are up today except two which are both down only one cent.