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I think the dividend was likely so large because of the possibilty of a dividend tax rate change in 2013. Note that it was announced the day after the election.

Based on cash on the balance sheet and the amount paid out the last couple of years I had guessed somewhere around $2.50. Not too close. I should have suspected management was waiting for the election when there was no announcement made in October. Insiders own a large number of shares and all are in tax brackets that would be affected by the proposed change.

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