You might want to take a look at FNF. After the company paid a dividend in March, the stock price dropped more than the ten dollar dividend. However, the price per share has been climbing back since then.
On ex-dividend day the stock price will be reset downward the amount of the dividend ($37.70). Based on today's closing price that would result in a PPS at opening tomorrow of $107.30.
There have been a number of cash rich companies that have paid big dividends to shareholders this past year. Some had slow upward price movement in the months post dividend and some actually moved much lower.
It depends on how the investors and market see what's left of the company and its business.
So, that leaves you with the decision - will you be better off keeping the shares and getting the fat dividend, or selling the shares now and going to the side to watch the action?