White Phal producing a new leaf

[lambelkip]

Welcome to the board, Sandy. Phals can and often do bloom while producing new leaves.
I generally do not recommend dividing orchids, more growths tends to make a healthier plant. if you decide to divide it, wait until the new growth has several roots of it's own, each at least a couple inches long.
If you're not already familiar with Phalaenopsis culture, check out the AOS Phalaenopsis Culture Sheet, and feel free to post pictures of your plants, so that people can give you more specific advice based on their current condition.