I do not disagree with your idea of allowing cash to accumulate from dividends tht have beien paid and then, a some point in time, deciding where / how to invest that cash.  

I prefer to have my dividends reinvested automatically so that all cash coming into my portfolio as dividends never sits there waiting for me to make a decision as to where it should be invested. I also like the idea that many DRIPS often buy new shares at a discountt from the market price where with accumultaed cash, you'd need to payt the full market price. For example my EMA dividends are reinvested in my DRIP  at a 5% discount, ENB is at a 2% discount.) No big deal this year or next. But over ime it is.

In the end, either approach regardless of how you invest in divdend growth stocks is likley to be wildly successful for investors with a reasonable, long-term, investmet timeframe.  

As always, traders or others who have a short term are likely to disagree.