> We would expect the stock valuation to go up by about 1% Yes, but not overnight. It will take one year or one quarter or whatever would by the period require

> We would expect the stock valuation to go up by about 1% Yes, but not overnight. It will take one year or one quarter or whatever would by the period required for the price to recover if it had distributed the 1% dividend. (You said an annual dividend of 1% but that seems too low for a stable business!)