ABC Pcl in 2008 reaffirmed with its shareholders that the company will pay at least 50 percent of its net income as dividend. In the meeting, the company also announced a plan to invest about 500 million baht to build a new factory to boost production capacity as overseas orders for its products rise. The company insisted the new investment won't affect its planned dividend payment because of a global economic recovery.

In February 2009, the company announced its net income in 2008 rose 60 percent to 300 million baht. The profit was in line with the company's and analysts' estimate. Despite higher earnings, the company announced it will omit the dividend payment for the 2008 operation. The company said it needs to reserve cash flow to fund the construction of new factory.

With this information, what will ABC's share price be after the announcement to scrap dividend payment? Please use the financial theories to explain your answer.