Someone else also thinks the dividend may have something to do with the gap down. Me; Also may have something to do with expectation July dividend Declaration will fall. http://investorplace.com/2016/05/why-banco-bradesco-sa-adr-bbd-coca-cola-enterprises-inc-cce-and-great-plains-energy-incorporated-gxp-are-three-of-todays-worst-stocks/#.V04DddT2bb0 The drop from near $51 to today’s price around $39 mostly reflects the one-time special dividend payment of $14.50 CCE owners will be receiving as part of the deal.