If the record date is May 7th why has the price adjusted down this morning?
Because a record date of May 7th makes May 3rd the ex-date and that's when the price adjustment happens - on the ex-date, not the record date or the payment date.
its ex div today.the announcement said on OR before may 7
WRONG!!!Special dividend isn't due until June 7th."The special dividend is payable before or around June 7th, 2012 to shareholders of record as of the close of market on May 7th, 2012."
you dont deduct a div payment and lower a stock price when intc pays div you dont lower the price