This is not entirely true. It varies by your individual situation. If you receive dividends in non-taxable accounts, or if you are retired depending on your income level, etc.
It sounds nice, but in practice it will result in selling stocks at the worst time. In a bullish market, you want to let the stocks run and in a bear market you will be selling at worst valuation.
I don’t specifically invest for dividends, but they factor in some of my strategies like covered calls. Today, my portfolio has returned over 2% in dividends and this was achieved without specifically investing for dividends. Many of my long-term holdings are providing like 4%, 5% on my cost basis.