Would you expect trading volume to be higher for dividend-paying stocks on the declaration date or around

Question:

Would you expect trading volume to be higher for dividend-paying on the declaration date or around the cum-date/ex-date?
Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing...