Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering

How do dividends of the underlying security in a security futures contract affect the security futures price?
The price of a future with an underlying that pays dividends is  As you can see, since the value of dividends is subtracted from the value of the underlying equity, the future's price is lowered if dividends rise. Compounding that effect with the dividend effect on equity prices, reducing their prices, the future should suffer more.