The nature (time variation) of response magnetization m(wt) of the spin-1 Blume-Capel model in the presence of a periodically varying external magnetic field h(wt) is studied by employing the effective-field theory (EFT) with correlations as well as the Glauber-type stochastic dynamics. We determine the time variations of m(wt) and h(wt) for various temperatures, and investigate the dynamic magnetic hysteresis behavior. We also investigate the temperature dependence of the dynamic magnetization, hysteresis loop area and correlation near the transition point in order to characterize the nature (first- or second-order) of the dynamic transitions as well as obtain the dynamic phase transition temperatures. The hysteresis loops are obtained for different reduced temperatures and we find that the areas of the loops are decreasing with the increasing of the reduced temperatures. We also present the dynamic phase diagrams and compare the results of the EFT with the results of the dynamic mean-field approximation. The phase diagrams exhibit many dynamic critical points, such as tricritical (center dot), zero-temperature critical (Z), triple (TP) and multicritical (A) points. According to values of Hamiltonian parameters, besides the paramagnetic (P), ferromagnetic (F) fundamental phases, one coexistence or mixed phase region, (F+P) and the reentrant behavior exist in the system. The results are in good agreement with some experimental and theoretical results. (C) 2011 Elsevier B.V. All rights reserved.