Don't get me wrong your line of thinking here isn't necessarily all that bad. Borrow, get the equivalent dividend yield to pay off margin interest, and bank on the appreciation of the stock over the long-term providing solid returns.
However, we're at the point right now where the markets are getting relatively frothy from a valuation standpoint. A market crash/correction/flat returns are more likely now than they were say..... 2 years ago.
Margin debt on the markets is at all-time highs, which generally indicates high degrees of speculation in the markets. This should be the time when investors get a bit conservative, not aggressive. Not saying you need to be selling all your stocks or anything to be "conservative". I'm just saying that borrowing on margin to buy stocks would be considered highly aggressive, and doing so at near all-time highs in the markets may not be the best strategy over the long-term.
Margin is already difficult enough for retail investors to make money. Add in the craziness we have on the markets right now, and it gets even harder. Imagine you do this, the markets take a hit, and you're sitting with a near 6% margin loan, a stock that is in the tank 30%, and all of your dividend income goes to interest?
I know you may not like this answer, but it is the logical one at this point.