Maybe WBC have been paying him "enormous fully franked dividends each year" because his buy-in price was four years ago for $17/18 which would make his yield on purchase price look "enormous" to him, if not to you.
If "the current dividend yield is or about 5.5%" based on current SP, plus 100% franking, then as a recent buyer at $24.67 dunno what the problem is. Anyway, "enormous" is relative.
Share price going forward is what will be of interest, for me anyway, 5.5% div/FF I'm more than happy with.
GL all.
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