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 future ability of the company to remain competitive.
You say indeed, then disagree?
And the share price is a more significant factor in your ability to make money than the dividends are, given the degree of volatility.
So you are talking about the viability of being able to trade the shares on a week to week basis for profit, rather than the viability of the company?
Not 'has a reflection on', but 'is a reflection of'. The forward earnings strongly influence share prices - that's the idea behind forward P/E ratios.
I am talking about the viability of holding AM shares, mid or long term, with the purpose of profiting from the dividends. It is highly likely those dividends will be nothing more than noise in the overriding signal of the price swings.