By the way, I can't quite imagine where you could satisfy an RMD by just using the dividends, I just don't think the math works out. Your investments would have to be paying an unusually large dividend rate for that to happen. I could be wrong though.
I'm suggesting the scenario where you can live off the dividends.
Transferring shares from a retirement account to a non-retirement account in sufficient quantity to satisfy the RMD isn't really selling shares unless you need to sell additional shares to satisfy tax liability of the RMD.
The historical dividend yield on VEIRX, for example, has been enough to satisfy RMD up to average male life expectancy.