Many Australian companies with a history of paying regular cash dividends, delayed, cut or stopped paying dividends in mid 2020. Many started paying dividend again late in late 2020 or early 2021.

1. Discuss the likely impact on share price of the information content in a company's announcement about the restart of regular dividends.

2. Explain what would have happened to the share price on the company's ex-dividend date, assuming no other events.