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Raymond Francis, coach-administrator of the King City Lawn Bowling Club, demonstrates his bowling form one recent morning on the bowling green of the King City Civic Association. Ben Santarris/Tigard Life – Advertisement –

A 10% yield from a household-name media company sounds like a gift. But Nine Entertainment Co. Holdings Limited (ASX: NEC) illustrates why headline yields must be read carefully. Much of that yield comes from a single, extraordinary payment tied to selling an asset, not from ongoing profits.