NGA: Not "usually" - whatever stock exchange is involved, they automatically drop the price of a stock by the dividend or distribution amount. That is so that people who buy on the ex-dividend date or beyond do not buy a devalued instrument (cash etc. lower because of payout). Check out CQP's historical prices and you will see what is called an "adjusted close" - again, this is standard procedure. Check out a site called drdividend.com for a decent explanation of this procedure. Best of luck.