BGCP always gets crushed on the dividend pay date. I've been in this name just over a year and it is the same every quarter. Pay Date comes, the stock take a good thrashing, then recovers it all back again over the next week or two.
After the dividend is paid out many sell the shares. A mistake for sure but an opportunity for many others. What is misunderstood is the ex date. The ex date is the date they reduce the pps the amount of the dividend. Now those who hold through the ex date close and sell the next day will not only get the pps of the day they sold but also the dividend which should be credited to your account on the Payout or distribution date. If you receive the dividend in stock you most likely will not see the added shares on the payout date becomes some companies wait until the end of the month. Hope this helps. Again this has been my experience and may not apply to BGCP's rules.