Good luck on buying at 16.25. You may well be right, but I am happy with the existing relatively safe dividend and don't want to bet on it going that low.
I've put in buy orders before at a low end price and then missed the opportunity. I did that with ILD this year with a buy order at 18 and a dividend around 11%. It got close but never went all the way down there and now is at close to $24 and of course a return of around 8.4%.
Lesson learned for me, don't wait till the very bottom of the share value --was it the right lesson--I think so.