If you go back through the record, the management has claimed as late as last year that by mid-year of 2013 they would be increasing the dividends. They were maintaining right along that the dividends were secure, at least through 2016. The stock price was around $14-$15 not that long ago, so someone knew some time back that something rotten was in the wind. In one day the management has SAVAGED the equity of a great many investors, long-term and short-term (most long-term I'd guess). To drop the dividend by 2/3's without warning shows total disrespect for investors, in my opinion. CRIMINAL, even if not a crime.