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Whirlpool's decision to dramatically increase its dividend in early 2013 to $0.62 per share. When it made that announcement, Whirlpool indicated that the date of

Whirlpool's decision to dramatically increase its dividend in early 2013 to $0.62 per share. When it made that announcement, Whirlpool indicated that the date of record for the dividend would be Friday, May17 and that the payment date would be Saturday, June 15. When would you expect the stock to go ex-dividend?The market price of Whirlpool stock just before the ex-dividend date was $129. Immediately after the stock went ex-dividend, the market price was $129.67. Is that price change surprising? Calculate the return that an investor might of earned if she had purchased the stock before the ex-dividend date, sold the stock immediately afterward and received the dividend a few weeks later.

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