I have been watching this company for a while for the high gross...

I have been watching this company for a while for the high gross dividends.

Do I think that it will materially increase earnings in the next few years?

Probably not.

Do I think that it can at least maintain its dividends?

With the BMS acquistion and the $1.7 billion of drugs coming off patent do I think that it will at least maintain over the next 3 years.

Most likely

Is the balance sheet and dividend payout ratio strong enough to maintain current dividends?

I believe so.

Therefore I see SIP as a dividend play.

If I can buy at a gross yield of 10% - 12% p.a. for 3 - 4 years and I receive my capital back (i.e. no capital growth) I believe it has been a sound investment.

Therefore SIP has completed my qualitative measures and it is a just a waiting game for the right price.

Mike M, you purchased for $0.90 which would be around my entry price.

Good luck to all