What effect do corporate actions have on prices?

Corporate actions may or may not have effect on prices and subject to other macroeconomic factors such as changing market forces of demand, supply, political/economic events, market sentiment etc. For example, a stock/share split has a direct impact on prices: price of the share will be lowered. A company paying out cash dividends may have impact on its share price due to the economic value transfer from company to investors.
Accounts with multicurrency facility will receive the cash dividend in declared currency unless otherwise determined by the issuer/PSPL.