I am looking Volvo's stock prices around the dividend on the 5th of April: http://finance.yahoo.com/q/hp?s=VOLVB.ST The close price moves: 579 -> 581 + 25 Where 25 is the dividend. This corresponds to an increase of 4.6%. However the adjusted close price moves: 94.40 -> 116.20 Corresponding to an increase of 23.1%. Can anyone explain this? Are the adjusted close prices from Yahoo unreliable or what else is wrong?