The net dividend benefit is zero. An amount equal to the dividend was removed form your account on the ex-dividend date. That same amount is then given back to you as a so-called "dividend". No net benefit. Wall Street scam at its finest. On top of that, you're taxed on those phony "dividends".
Not true. The dividend is to paid out of paid-in capital, not retained earnings, so it's not a normal cash dividend; it's a liquidating dividend. It's tax free until your cumulative dividend received covers the cost of your purchase of the stock. Beyond that point, additional dividends are treated as capital gains.