I've held many of stocks that paid dividends and never once realized they drop that day by the amount of the divy. I actually held SBGI through the divy in 2010 and never even realized it dropped that day for the .43 divy. I looked back and cofirmed it. It traded back to the original price fairly quick. I am playing this one as if the price will act the same way. I dumped a fairly good chunk right before close on Tuesday and picked it back up this morning.
Divy's are not as tax friendly to me as capital gains are right now. Thanks for the heads up on the coming drop.