Market is not stupid.
Dividends are built in into the price.
If a stock/fund pays dividend, their capital gain is lesser to exact amount of such dividend.

Unlike bank account, where interest is calculated daily based on your balance on that day, stock dividend is paid regularly (enbridge is quarterly, on 15th of November, Februaru, May, August), based on the amount of shares you hold on that day.
So, one [smart ass] could possibly buy bunch of enbrige on 14th of february, get the dividend and sell it next day on 15th.... Only there is not one single smart ass, but many, so if you look at the enbridge stock price around these days, you will see price is gradually rises as it comes close to the payout date, then drops down by exact amount of dividend paid.

There is no free lunch.
:)