WAM 0.62% $1.62 wam capital limited

I am loosing heaps on this one. $2.27/$1.61.But check out the...

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    I am loosing heaps on this one. $2.27/$1.61.
    But check out the dividend.
    1/2 yearly 7.75 cents consistent for last 3 years. Franked 100%.
    That is 9.6% p.a. or13.71% p.a. if lucky enough to get franking credit.
    Thay is a very, very high return.
    So why is the share price so low?
    Only answer I have is there is a lack of faith in WAM maintaining the dividend?
 
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