You are correct, it won't stay at 10%. The dividend will either be cut and/or the sp will rally to reflect an ordinary yield. The reality is the sp rallying is far more likely as MFG have a pay out ratio 90%+. The amount of earnings MFG would have to lose to reflect an ordinary yield at its current price is very improbable.
I expect about a 15% div cut but a 50% capital return over the next 6 months or so.
MFG Price at posting:
$20.84 Sentiment: Buy Disclosure: Held
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