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Re:S&P Dow Jones Indices to launch cryptocurrency indexes in... by dmoy on Thursday December 03, 2020 @06:34PM (#25296960)
Because it's roughly what happens, absent other factors on the ex div day.

https://www.investopedia.com/articles/investing/091015/how-d...

https://finance.zacks.com/stock-price-change-dividend-paid-3...

It's not 100% true, but it's a fair bit better approximation than the other end of the spectrum which is roughly "dividends create free money out of thin air".

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