In set_modtime(), the verbose message should be output even if

--dry-run was specified.

util.c

@@ -130,15 +130,15 @@ void overflow(char *str)
 
 int set_modtime(char *fname, time_t modtime)
 {
-	if (dry_run)
-		return 0;
-
 	if (verbose > 2) {
 		rprintf(FINFO, "set modtime of %s to (%ld) %s",
 			fname, (long)modtime,
 			asctime(localtime(&modtime)));
 	}
 
+	if (dry_run)
+		return 0;
+
 	{
 #ifdef HAVE_UTIMBUF
 		struct utimbuf tbuf;