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What is up with a company that is paying a one time special dividen to share holders on record by 18 aug 08?

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Ticker (chip) they are paying $1.36 dividen per share. Can this be possible. The price of the stock now is $2.23. Can this be legit

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  1. they could be slpitting the shares (cut the individual share price to make more of them)

    that would be legit


  2. Its legitimate.  They are selling a subsidiary and using the proceeds to pay off debt, and distribute a special dividend.  Why they are paying the dividend I am not quite sure.
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