It's very useful, but - in my opinion - is somehow 'dirty'.

You may, always, use NULLIF operator, ie:

DECLARE @dividend INT ,@divisor INT
SET @dividend = 1
SET @divisor = 0

SELECT @dividend / NULLIF(@divisor, 0)

which will lead you to NULL when divisor is equal to 0.

I agree. This is a very "dirty" way of doing things. I would not have this in any of my code - development, QA or production. Chances are that if the system does end up going down the path of a divide by zero error, there are some business issues up or down the chain which need to be corrected.