I just bought in after the director spent close to a million. But you raise a good question. According to yahoo statistics, the payout ratio is 242%. They've been paying for quite a while and going up. But this should serve as a sobering thought.
Pretty much the same answer as for any company ... how good is the management, their vision, focus and execution. I use BGS management as my gold standard.
I would rate management as mediocre at this point ... as I've only held for a little over a year and am slow to form solid opinions.
Mine is subject to change as another year or so goes by. These folks will never make the top of the class but could end up being acceptable moderately good managers ... on the other hand, they do score high on the greed scale ... in a manner not friendly to unit holders.
Not a quantitative answer but then your question really does border on a crystal ball request and as such is a bit foolish.
Of course, there is no way to know for sure. But, from a historical perspective, I'd say the dividend is pretty safe. A couple years ago, the company released a terrible earnings quarter and the stock nosedived to below 14. Everyone questioned whether the divy was safe.
What's happened since then? The company has consistently RAISED the dividend. Unless mgmt was grossly incompetent (I hope not!)or downright fraudulent, they never would've raised the dividend unless they were confident there was ample coverage.