Do you consider this stock dividend to be equivalent to a cash dividend? Normally a stock dividend is more like a partial split. There may be more involved here, though, and I'd be interested in your view.
You are right, though on FF you can call your broker and get the $4.12 dividend in cash and of course FF will fall in price on ex-div date about the amount of the divvie. I thought it woud pop more, so I am already in and out for a quick profit, bought at 20.45 and sold at 21.25.
IC-why sell for the short term cap gain? The dividend looks very juicy. I don't follow this one--maybe the shares would sell off heavily after the stock dividend. I generally avoid closed End funds, maybe this is a trap?