RE:RE:RE:RE:RE:Cardinal Energy 11.2% divvyI agree that, other things being equal, then on ex-dividend day, the stock price should decline by the amount of the dividend, making a purchase aimed at grabbing the dividend pointless.
However, other things are not always equal, creating an opportunity to profit from a "Dividend Capture Strategy", as Investopedia and others call it. If you correctly anticipate that the price will stay at least flat because of other factors, such as a rising oil price, then you can capture the dividend on a quick in-and-out. For example, yesterday HWX closed at 6.21, and right now it is at 6.24, despite the fact that today is its ex-dividend day.