How I Verify a Dividend Yield Before I Buy (Iggy Masterclass Series) | 🦖EP1578
A 10% headline yield is not income — it is the market's warning that the share price has already collapsed faster than the dividend. When free cash flow cannot cover the payout and gearing breaches 35%, the yield on the screener is a historical artefact, not a forward promise. Mapletree Industrial Trust clears the yield hurdle and the gearing ceiling, but the TTM ICR at 3.06x sits below my 4x forensic floor — a known, quantified risk, not a clean pass.
The five-step verification process exists precisely because the balance sheet never lies — only the screener does. Capital protection is not a conservative constraint. It is the only rational starting point.
📺 YouTube: https://youtu.be/k-muUr7GtHM
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