Melrose holds its dividend

I've had my eye on Melrose for a while, I've done some research but felt they were a touch expensive hovering around the 240p mark.Well following their interim management statement of last Friday they plunged around 15% in the day. This was seemingly on poorish results, whilst not being disastrous in my eyes. It seemed to focus really on general sentiment of the market whilst not being too specific on Melrose themselves. It appears that the market is pretty jittery at the moment and any negativity is viewed very dimly at the moment. 

Melrose made a recent acquisition of Elster and as a result have frozen their dividend this year which will maintain it at around 4%. Whilst the most common checkbox for me is a policy of dividend growth when investing in shares, they have not reduced it either. I feel that once the Melrose board have Elster sorted the shareholders will see a great return as a result and further the increasing dividend policy growth will be resumed. As a result of all this I took the plunge at around 204p. As with all my other dividend growth shares I'm going to take a long term view on his stock.