On April 23, 2004, Value Line announced a special dividend of $17 50 per share, with the ex dividend day on May 20, 2004 (that was Thursday) Value Line stock price and daily trading volume are shown on the graph below by the blue line and by the red vertical bars, respectively What was the record day for Value Line special dividend announced on April 23, 2004 What was the cum dividend day Please explain the sharp increase of Value Lines stock price at the announcement of the special dividend Be brief but precise How would you explain the sharp decline of Value Lines stock price at the ex dividend date How would you explain surge in trading volume between the announcement and the ex dividend date 160 80 140 Special Dividend of $17 50 Announced 70 120 60 Ex Dividend Date 100 m 50 Volume (shares in thousands) 80 40 Stock Price (S) 60 30 40 20 20 10 hulle 0 0 March April July August May June Date (2004)

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On April 23, 2004, Value Line announced a special dividend of $17.50 per share, with the ex-dividend day on May 20, 2004 (that was Thursday).

On April 23, 2004, Value Line announced a special dividend of $17.50 per share, with the ex-dividend day on May 20, 2004 (that was Thursday). Value Line stock price and daily trading volume are shown on the graph below by the blue line and by the red vertical bars, respectively. image text in transcribed

What was the record day for Value Line special dividend announced on April 23, 2004?
What was the cum-dividend day?
Please explain the sharp increase of Value Lines stock price at the announcement of the special dividend. Be brief but precise.
How would you explain the sharp decline of Value Lines stock price at the ex-dividend date?
How would you explain surge in trading volume between the announcement and the ex-dividend date?

160 80 140 Special Dividend of $17.50 Announced 70 120 60 Ex-Dividend Date 100 m 50 Volume (shares in thousands) 80 40 Stock Price (S) 60 30 40 20 20 10 hulle 0 0 March April July August May June Date (2004)