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What Happened At Car Phone Warehouse?

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I don't trade but can someone explain in numpty terms what's happened to Car Phone Warehouse PLC. I've looked online for any news stories but can't find any reason for the share price to have dropped by 49%

They just paid a 172p dividend per share so it's an extreme example of a share going "ex-div". The dividend payment has lowered the value of the company so the share price falls by a similar amount.

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