Not knowing anything about the BOGN situation, my expectation is that it will drop by 50 cents or more. However, there may well be a runup prior to ex-dividend day.
The key for a good dividend stock is whether it will quickly recover the pre-dividend price in the days that follow. If there's another dividend coming in three months, or some other reason to buy the stock, then it's a good deal.
Also, you said "When they pay the dividend on Jan. 6". Be sure you know the difference between the "ex-dividend" day and the day they actually pay it. It's the "ex-dividend" day where all of the volatility is. This is three days before the "day of record" which is probably around two-four weeks before the day they pay the dividend. I just glanced at their news and see the day of record is Dec 22. I think that means the ex-dividend day is Dec 19, although I may be off by a day. So, it that's the case, you would have to sell on Friday Dec 16 to avoid the dividend and the accompanying volatility. The day the money shows up in your account is of little consequence to the trading.
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