.

& of course us Scottish Lions won 

Mmmmm...not a good start for the Yankee boys 
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In my experience usually when a company offers an extremely percentage of dividend, the market thinks that is not sustainable.

So it is expected to be temporary, and most investors expect the dividend to be lowered substantially soon.

Then you are stuck with a poor performing stock, that offers little or no dividend.

I'm not a fan of dividend or stock buybacks, I consider both a waste of company money. They piss away billions, often even taking on substantial debt to do both. All for the "share holder" = speculators who buy on Tuesday and sell on Friday.
In reality such corrupt managers just want to increase the value of their stock options, so they abuse company money for a short term rise of the stock price.

I prefer a company with little debt, and that saves money for difficult times, so they can survive those, and will be able to do a takeover when prices are low.

Ever seen the stupidity of big oil stocks? They piss away billions each year in dividends and stock buybacks. Debt increases, then the oil and or natural gas prices collapse. And they don't have money for a take over. So they wait until their own stock price and revenue is high again, and do a takeover at a very high price.

In rare cases, as Berkshire does, buying back own stock can be done prudently. Buy big oil usually does not have money to buy back their own stock when their stock prices are extremely low, like during Covid.
So they wait until their stock prices have gone up 100 or 150%, and then buy back own stock.

Beyond retarded short term thinking imo.