I believe that a dividend based on the EPS and paid with two quarters of delay (to be able to pay them with real cash and not receivables), would be the best option.
Even so, any cash dividend is doomed to fail as long as the massive dilution continues.
The shareholders will not be interested in receiving 10% of the capital invested while 50% of the shares are issued in the same year.
I think someone put a link on a new Solomon business to produce methane. The saying "You can not teach an old dog, new tricks", applies very well to this case.