Which of the following statements is FALSE?

Question $21$ options:

The dividend puzzle is the observation that firms still continue to issue dividends despite their tax disadvantages.

In perfect capital markets, when a dividend is paid, the stock price drops by the amount of the dividend when the stock begins to trade ex$-$dividend.

An open market repurchase is the most common way that firms repurchase their shares.

None of the provided choices is false.

Anyone who purchases a share of stock before the ex$-$dividend date will not receive the dividend paid by the firm.