Dividend derivatives have been a thing for quite a while. When Covid lockdowns started in 2020, EU mandated that EU banks are not allowed to pay dividends and Société Générale took quite a hit: "SocGen said it lost about 200 million euros on products related to the cancellation of dividend payments in the trading business." [1]
Some more information about available dividend derivatives on EUREX: https://www.eurexchange.com/resource/blob/80940/d5a6e620224a...
[1] https://www.straitstimes.com/business/banking/socgen-posts-s...