Taking an optimistic viewpoint, if they were doing a bang-up job its possible that they have an excess of cash to the divvy pay out. Although they could hold the money and wait, (I think up to a year) before they are taxed, its possible that they think this is a good opportunity for an SPO. They like the current MBS being offered and increase book value in one fell swoop.
Playing devil's advocate: could management be thinking that the divi announcement is likely to disappoint and the stock price go down, hence doing the SPO early? Just a thought - shoot me down, please...
If you listened to the CC Gary Kain said they believe in a "steady" dividend.. So in my view it's a no brainer they announce .90 however, if the spo was done in response to some killer deal they could not pass on.. then earnings could surprise to the upside.
In any event we should see a bump in share price going into divi announcement..
You just made it to Journeyman Intermediate Level in brainstorming.
From the manual ppg 117 paragraph 3: "The journeyman thinker will spontaneously[without prodding from a master] arrive at a divergent style in which the thinker can simultaneously conceive of opposing values without emotional distortion"