Buy Good Companies during Temporary Setbacks.I do not think they will cut the divi by 50%.
30% is more ikelely.
CEO's letter said that divi is an important component of shareholders' return. Then he can not go and cut it in half.
In next line, he says"sustainable" which indicates a divi cut.
If you take the whole issue togetter, 25 to 30% should be the case.
Moreover they increased the divi six months ago and they can not cut it in half now.
If theyreduce it by 50%, SP will fall.