Yes explanation understood. The real question was, As pps goes down, then yield goes up for new investors. That attractive yield keeps the pps from falling too far.[compare the drop in growth stocks in 08-09 vs dividend paying stocks*] But while it is down it is then a good opportunity to reinvest... unless the income is needed, then it is a tougher strategy.
For myself I have started to use div payments to acquire long puts in equities likely to drop the farthest on a broad selloff. Growth issues usually suffer the most. If they are long enough, then time and probablity works to my advantage. A sign to sell the puts and buy calls is when EU shows some resolution.
* In 08-09 AGNC traded between 15 and 20 then shot up to 30.