Tel-Nine Industries has paid a regular quarterly cash dividend of $0.35 since 2010 on their publicly traded common stock. On May 14 of this year Tel-Nine's board of directors declared the regular second-quarter dividend of $0.35 per share payable on June 30 to stockholders of record as of June 15.

What impact should be seen in the market value of the common shares on each of the following dates?

1) May 14

2) June 13

3) June 15

4) June 30

Match with

A.	The market price is likely to decrease by the same amount as the upcoming dividend on this, the ex-dividend date, because new purchasers will not receive the dividend.
B.	The market price of the stock should not be affected since today the company is only paying the liability previously created at declaration.
C.	The market price of the stock should not be affected on the date of record since the ex-dividend date determines who will and who will not receive the dividend.
D.	Because the dividend is the same amount as prior dividends, the stock price should not significantly change on the declaration date.