Remember, the share price wasn't supposed to be that low when the dividend was announced. It was likely expected to stabilize the stock price to at least the dividend price.

However, why the dividend wasn't simply cancelled...I can't say. Perhaps CRGP didn't know that the additional shares would have due bills attached, and believed they could absorb the cost of the dividend for shares as of June 30 which would be terrific PR for a stock that was quickly losing value.

Or maybe it was a secret government plan.