Recently I sold 3006 DLS shares the day before the ex-dividend date.
On the ex-dividend date, for the same amount of the sale, I bought 3052 DLS shares.
I have therefore gained 48 DLS shares.
So how have I not gained? I have 48 extra shares at the ex dividend price, whatever it may be.
Thank you for your response.
Another example is VHT, ex-dividend date 21st June
Shares X div yield $1285. By selling pre dividend date and buying back on the dividend date net amount of shares were 14.5 @ $173.93 = $2521. I guess you win some and lose some, however I simply bought back at the market opening.
However my real reason to do this is that I am not subject to U.S. capital gains tax, but I am liable to a withholding tax of 30% on dividends.
So I suppose I gain by avoiding withholding tax.