Ann: CCA 2013 Full Year Results , page-32

Stocks that are paying high dividends have a habit of falling on bad news after the dividend. I know this is an extreme example but Macmahons announced some really bad results a few years ago and the price held at about 50c until the 2.5c dividend was paid then it fell downward towards 30cents pretty quickly. Hopefully CCL suffers a similar fate and we can get a better price after the dividend as people sell out.