A stock trades "ex-dividend" after the point when holders who get the dividend is determined. If you buy once it is "ex-dividend" you don't get the dividend.
So - my question is - did EONC drop from the 4s to the low 3s BECAUSE it went ex-dividend (which you would expect if there is a .53 or so dividend)? If not, you've got another .53 drop coming when it DOES go ex-dividend.