a few weeks ago this would have looked like a smart move to me
as the stock tends to recoup a good chunk of after hours losses the next trading day. Value investors were taking advantage of the bargain valuation, the dividend yield and the possibility of a short term business uptick.
This time things are looking somewhat different as the company is now forecasting ongoing losses for at least the next three quarters and perhaps for the full fiscal year 2013 with no real visibility beyond this date.
The company will undergo a major transition for the next 12 to 24 months with the outcome completely unclear at this point. Even the dividend looks at risk if the company continues to experience acceptance delays and performance issues.
This might not be the time to step in, taking the dividends and waiting for better times as no one really knows if the company will succeed in the end. If they are forced to cut or elimate the dividend next quarter the stock will take another huge nosedive. Would watch cash levels very closely during this transition although this shouldn't be an issue short term. Guided for cash to be up significantly next quarter on the call.