How do dividend payments work for a US Treasury Money Fund like SNSXX?

I know that for a company stock, if you sell the stock before the dividend payout date then you get no dividend. But if you get paid the dividend, the stock price usually drops to reflect the updated balance sheet post payout.

How does this dynamic work for money market mutual funds that don't get reevaluated like stocks do? If a fund like SNSXX pays a dividend every month, what happens to the partially accrued dividend yields?