Oz,
You could be right about the dividend. But they would still have enough free cash flow to support 3.5c and with plenty of cash on hand as well. In this environment they don't have many other opportunities for the cash so it makes sense to give it back to shareholders.
Also agree that the stock could be heading further South. Noni got as low as 35c after the last big earnings disappointment in 2011 and was stuck in the 40s for a long time.
