How do you not understand that the current dividends are totally immaterial if the future ability of the company to remain competitive is in question?
Dividends have some reflection on profits, and those profits are used to remain competitive.
The share price has no reflection on the future ability of the company to remain competitive.Indeed. Instead the share price is a reflection of the ability of the company to remain competitive in the future.
And the share price is a more significant factor in
your ability to make money than the dividends are, given the degree of volatility.