This paper examines the implied dividend gap, the difference between options-implied dividend yields and trailing realized dividend yields, as a forward-looking predictor of stock returns. Using optionable U.S. dividend-paying equities from 2018–2026, the study finds that stocks with low implied dividend gaps significantly outperform high-gap stocks, generating an annualized long/short return spread of approximately 6.5%. By extracting risk-neutral dividend expectations from equity options, the paper shows that options markets embed forward-looking information about dividend growth and cut risk beyond traditional valuation measures. The results remain robust after industry neutralization and Fama-French factor adjustments, suggesting the implied dividend gap captures a distinct source of return not explained by standard risk factors.