$3.15 DIVIDEND LAST CHANCE FOR EX-DIVIDEND DATE TODAY 05/18/11
First, I'm a trader not a long-term holder. Stocks, even TOT, are too volatile not to take advantage of swings. Look at it drop when Egypt unrest happened, only to hit new highs, then to drop on a decline in oil recently.
Anyway, the strategy is buying 1,000 or more shares. I sold TOT at 58.07 yesterday. I knew if I could buyback below 56.50, I would be ahead of not holding for the dividend. So I bought at 56.20 and saved $280 after $20 commission on the 1,000 shares. My other motivation was that it is in a Roth account that is tax free, so the France withholding tax is a penatly in my situation.
I'm holding TOT for the low 60s again. Third round trip this year from mid 50s to low 60s.
For those interested, this strategy also has worked for VZ.