You're missing a key component of how dividends tend to work. If a stock it trading at $102 and they announce a $2 dividend, the stock almost immediately drops

You're missing a key component of how dividends tend to work. If a stock it trading at $102 and they announce a $2 dividend, the stock almost immediately drops to $2. If you buy/reinvest that $2 back into the stock, effectively nothing has changed.