RE:RE:RE:RE:RE:Div payment questions to reply to your Q why the rich dividend. article below from motley fool describes it:
The Canoe way
On the surface, the Canoe EIT Income Fund (TSX:EIT.UN) is very similar to the BMO ETF we just looked at. Both funds use an active management approach to choose the best stocks for a covered call strategy, and both funds own a similar range of stocks. The only difference is the Canoe fund also owns some U.S. blue-chip stocks.
If they’re so similar, then how can the Canoe fund yield an astronomical 13.2%, a payout that is approximately 50% higher than offered by the BMO ETF? And this is after investors pay a management fee of more than 1%, which is much higher than the other ETF we just looked at.
The answer is one word: leverage. The Canoe EIT Income Fund uses borrowed money to goose its returns. But we must remember that leverage is a double-edged sword. It’s great when things are going well, but it causes big declines when the market suffers.
I’m also confident the Canoe fund can maintain its yield over the long term. The payout — which is currently $0.10 per share each month — has stayed the same since 2009. Additionally, this fund hasn’t missed a payout since debuting on the Toronto Stock Exchange back in 1997.
https://www.fool.ca/2020/06/25/diversify-your-portfolio-with-these-2-8-yielders/