KF i understand how you feel, but this is just mathematical adjustment while there are many discipline /way to value stock. according to your approach then it should deemed as under valued as this reduction due to dividend doesn't make sense. Just top up if you want. Market will adjust the price eventually.

There will be a loophole in this kind of mechanism. Say today early morning i q the counter at 9.03 and god jaga me then I managed to buy at 9.03. So I got 2 type of gain within a day 1) dividends gain of 0.11 , 2) capital gain of the shares price go up to 9.06 or higher. However for investors buy before today experience 0.11 of price dropped, mana ada adil ini macam.