dividend yield v's sp - any views?

Annual div just hit the bank account.

For 2012 year this stock paid 25c in dividends fully franked. franking credits were 5.8c.

So taking franking into account this stock is currently yielding a shade over 7.5%.

Now I know that high yielding stocks sometimes are masking earnings downside but I just can't see this stock having a major hit to its earnings. While it may not be getting the earnings growth of a fews years ago, even if growth in revenue slows or decreases slightly its still better than a bank deposit.

I recognise that the Australian economy is slowing and as some of that is factored into the SP but it seems the SP took a 10%+ hit on the basis of the CEO jumping ship - which he did to a higher profile, higher paying, bigger market cap stock than this one. no because WTF was going doing badly.

All of that makes me think that this stock is a solid buy. I add to that that management have been fairly quick to come to market in the past and let them know when earnings are not on target and there has been now news from this company 50% into their half year results which would suggest to me that they largely remain on track to meet their earnings targets.

I also read the previous CEO saying that earnings got a spurt BECAUSE of the GFC as people switched from expensive overseas holidays to cheaper domestic ones and earnings copped a hit when the high dollar and that fact our economy didn't hit the wall sent people back overseas.

So just some of my opinions on this stock but I'm interested in anyone else who has a view.