I beg to differ, all the major banks are returning around a 4%...

I beg to differ, all the major banks are returning around a 4% return on their current share price. They are not considered growth stocks and any future profit gains from here are going to be hard work for them. FMG is returning over 8.5% return if you figure the next dividend is going to be the same as the previous 86c dividend.

You can look at it two ways, that A) its returning a higher return on investment than the banks because the market believes the current dividend level is not sustainable.

Or B) the current dividends are sustainable and going to continue to grow therefore giving the market a reason to re rate the SP to a higher level to match the sustainable dividend.

No one can say with any certainty how this big shift into clean renewables and Hydrogen through FFI is going to play out for FMG shareholders. Retail and institutional holders have placed their bets and time will tell who made the wisest move during current times.

Personally not fussed either way what scenario pans out over the short to medium term. I am in it for the long run and my average buy in is much lower than the current share price and it has paid very generous dividends along the way and will continue to do so in the future in my opinion.