On the payment day, you'll receive $150 worth of dividends. After that, however, the stock price will likely drop the same $1.50 as the company is technically worth that much less after paying its shareholders that amount per share.
Many companies that payout dividends are well-established and stable companies. By paying a dividend, they attract investors creating more demand for their stock.
It hurts their bottom line. That is much less cash the company has and is therefore much less valuable when paying out dividends.
The company will automatically pay to your brokerage account at distribution time by buying a stock or mutual fund that pays out dividends.
As mentioned earlier, many of the companies that pay out dividends are long-standing, well-established companies. Here are some Examples: