With respect to the dividend-payment process, the price of a share of stock can logically be expected to drop on:

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Quizplus · Accepted Answer

The ex-dividend date is the first day that a stock trades without the dividend. This means that investors who buy the stock on or after the ex-dividend date will not be entitled to the upcoming dividend payment. Since the dividend payment is seen as a reduction in the company's assets, the market typically adjusts the stock price downward by the amount of the dividend on the ex-dividend date. Therefore, logically, the price of a share of stock can be expected to drop on the ex-dividend date.

With Respect to the Dividend-Payment Process, the Price of a Share