This is div day, but the x-date was a couple of months ago. The effect of the div is already factored into the price. This big down at opening is odd.....means somebody is playing with the stock. i can't help but wonder if they sell BTI and buy PM.
Search it yourself. "Ex dividend date and price action". This is the date the stock price will drop a proportional amount due to the company paying out millions of dollars of cash. That's the date that the dividend money is transferred.
Not when the post office delivers the check to your house.
I just checked ITY and it's not doing this" down big at open". ITY is actually up about 3% the last 5 days. So with MO,PM, and ITY up and with BTI posting great earnings and forward comments over the past week, i see BTI as ready to run when the sellor gets thru, and if this pattern continues, I'm buying shortly after opening and will take some very short term profits.