RE:RE:RE:RE:5i research (Peter Hodson) on DRMrAnderson
Payout ratio is calculated in formula using earnings
https://www.investopedia.com/terms/d/dividendpayoutratio.asp
Cashflow will show relationship to company assests ( that being cash in this case ) increasing but last quater cash clearly decreased so giving a payout of 80% must have removed some one time charges as you mentioned above.
I re-looked at the financial statements again I cannot see any large one time charge that jumps out at me for making the earnings negative for this quater.
Maybe you can help with finding this value, please note earnings from same quater last year were also negative