"Stage 2: the ex dividend date - this is the date that a company is quoted ex dividend (a buyer on or after this date will not receive the current dividend). On this date (all else being equal) a stock's price would normally fall by an amount equal to the dividend paid plus a portion of the franking credits attached. As markets are not static the amount of this fall is often much more or much less than the dividend and franking credits...."
That's a fairly good summary.
Say EXS closes at 70c tomorrow (last cum-dividend date) then following the above the stock might trade on Monday around 26c (closing price less dividend - capital return less half of franking credits). I've seen ex-dividend stocks do this many times.
Also expect a lot of price volatility on Monday (trading between 20c and 32c for instance).
If you are asking us to do your fundamental research for you...forget it.
EXS Price at posting:
67.0¢ Sentiment: Buy Disclosure: Held