Well bottom line, no company can "Have quarters where net income per share is below the current dividend" for an extended period of time. Thus they "focus on earnings generated over 12-months". Simply put, you can't expect a continued 27 cents indefinitely when traveling over a rocky road.
Today's decline of 2.55% may be in reaction to Federal Reserve chair Janet Yellen's comment that stock prices look quite high. Also, the Shiller P/E ratio for the S&P 500 is at 27. The Shiller ratio or CAPE divides the price by average earnings over a 10-year period rather than just one year. One never knows the exact catalysts but the market has not had a meaningful correction for an extended period of time. In my opinion, some dry powder should be held in reserve should a 10 or 20 percent correction happen during the slow summer months ahead.