What price reaction and volume patterns can we expect around the ex‑dividend date (Sept 29) and payment date (Oct 10)?

Ex‑dividend date (Sept 29) – price reaction

When a stock trades “cum‑dividend” on the day before the ex‑date, owners still receive the announced payout. On the ex‑date the market automatically adjusts the price by roughly the dividend amount, so we can expect CSR to open ≈ $0.70–$0.80 lower than the close of Sep 28 (the $0.77 per‑share payout). Because the dividend is modest relative to CSR’s price (typical price range $35‑$45 in 2025), the discount will be absorbed as a small, technical‑driven pull‑back rather than a dramatic decline. In the first 30 min of trading on Sep 29, expect a higher‑than‑average selling pressure with a volume bump of 1.5‑2× the 10‑day average, as dividend‑capture traders unwind existing positions. If the price stays near the adjusted level (e.g., $38.20 → $37.43 after the $0.77 drop) and holds above short‑term support on the 20‑day SMA, a bounce‑back can quickly occur as new buyers who are indifferent to the dividend entry step in.

Payment date (Oct 10) – volume and price dynamics

The dividend is paid on Oct 10 to all shareholders on record at the close of Sep 29. By the payment date the ex‑dividend adjustment is already fully reflected; the market typically treats the cash‑distribution as “cleaned‑up” information, so there is little to no systematic price impact. The most common pattern is a quiet‑volume day—trading volume often falls back to or below the 10‑day average, and price moves in line with the broader market or sector drift. Any price movement on Oct 10 is more likely to stem from macro or sector news rather than the dividend itself.

Actionable take‑aways

In short, the ex‑dividend date will generate a predictable, modest downward price adjustment accompanied by a short‑lived volume spike, while the actual payment date should be a low‑volatility, neutral‑impact day. Align any entry/exit signals to these patterns rather than the dividend itself.