Breaking: CHINA CUTTING OUTPUT, page-31

The funny thing here is that we all sound crazy talking about a 25% dividend yield and it sounds like none of know what we are doing it is so unusual.
Yet FMG has just paid a half year franked $2.11 dividend. It is on track to pay a half year dividend in February of between $1.20 and $1.70 franked. Then from mid to late next year the IBO project ramps up and the cash gushes further.
I have been a shareholder just over 18 months. I paid about $10 for the shares and have already recieved over $5 franked in dividends plus the share price has risen 40%.
And yet the way the share price is going a share price of $10 is very plausible and so a dividend yield of greater than 20% franked is very plausible.
FMG may be a dividend trap but I don't think so. I think it is just great value. The market for whatever reason is under valuing the company. Buy the shares as cheaply as you can.....never sell them.....and enjoy the dividends.