The "dividend capture" strategy is what youre describing.
What Ive noticed is, when a company makes its announcement, for monthlies it usually falls on the 3rd week of the month. When they announce, in a 3-5 day window the bottom shows up. BUY in then. Hold it Until the afternoon of the day before the X date. Many times you'll exceed in sp appreciation what the original dividend is.
If timed right, also buying on a Friday when traders sell off for the weekend, lots of bargains show up.
BUY low sell HIGH
The stock market is a device for transferring MONEY from the impatient to the patient......Warren Buffett