did it just go ex-dividend? (special dividend from sale of Altana Pharma 33.00euros) closing price $27.22 -$42.53
http://www.genengnews.com/news/bnitem.aspx?name=16706086 May 3 2007, 10:26 AM EST Business Wire The shareholders of ALTANA AG (NYSE:AAA)(FWB:ALT)(GER:ALT) have approved the proposals on the dividend distribution made by the Management and Supervisory Boards at today's Annual General Meeting in Frankfurt. On the basis of the shareholders' resolutions, ALTANA will pay out a special dividend of EUR 33.00, resulting from the sale of ALTANA Pharma to Nycomed. In addition, shareholders will receive a dividend of EUR 1.30 for the business year 2006 as well as a bonus dividend of EUR 0.50. As a result each shareholder will receive a dividend totaling EUR 34.80 per share. === EUR 34.80 * 1.36 $ / EUR (oanda.com) = US $ 47.33 / share Yahoo.com reports AAA opened at US $ 70 / share on 3 May 2007. 70 - 47.33 = $ 22.67 / share. http://finance.yahoo.com/q/hp?a=04&b=16&c=2002&d=04&e=16&f=2007&g=d&s=aaa Yahoo.com reports a $ 45.932999 dividend 15 May 2007. Yahoo.com reports AAA closing price 14 May 2007 is $ 69.75 / share. 69.75 - 45.93 = $ 23.82 / share. Yahoo.com reports AAA closing price 15 May 2007 is $ 27.22 / share. AAA closing price 15 May 2007 is about 12 % to 20 % greater than I expect. Chemical companies might be unpopular <img src=http://www.turbophoto.com/Chemistry-Photos/Chemistry-(14).jpg \img> but the products of chemical companies are very popular.