Buy on dividend announcement, sell 2 wks later, capture div runup. That makes 9 of the past 11 quarters that it has worked, for an average gain of about 12% when it works. The two times it didn't work included a not so big deal 3% drop, and a pretty big deal 25% drop. It took 3 months to recover the 25% drop, but it did recover it fully if you were willing to hold and wait. (note: the 25% was when the shorts joined en masse last year).