The dividend was cut because it was way to high before which I already stated in what you quoted.... It was a quarterly dividend of 33 cents a share and now it is down to a more reasonable and realist 17.5 cents a share.
Have you ever invested money? Do you not understand how dividends work? ...17.5 cents on a stock worth 50% what it used to be is basically the same % dividend. They cut the dividend because they didn't have enough income (earnings) to pay the dividend...dividends are cut for a reason, not just "because it was too high". Good grief, I hope someone else is in charge of your retirement investing. Seriously, you just make s*** up as you go...
DO you ever actually look things up before expressing your feelings? They have a quick spike at the end of 2017 just like basically the whole market did as well as a run up in that time where it was sitting higher than it had averaged for quite some time. The current price is right about it's historical average minus a run up in 2013/2014 then it came back down and a run up in 2017 which then came back down. If you understood how money works you would know that having to pay 33 cents a share means more money out of the companies pocket paying the dividend than 17.5 cents a share is. The dividend was to high so it was reduced to a level that is sustainable as I have said many times but why let facts get in the way right?
I give up. I'll take my advice from someone who knows the difference between the words "too" and "to". Don't quit your day job. <facepalm>