I doubt the two are related. Probably not many even noted that distribution announcement as this trust seems to follow a different announcement schedule than the other trusts. Anyway as the other poster said, they stated that the lower amount was due to a shorter month which would be no reason to sell.
12 divs per year definitely takes away a lot of the volatility from the dividend announcements, Realized vol on this one is single digits, which is amazing for a royalty trusts. I also noticed, its trading really cheap in terms of PV10 and DCF, especially for a perpetual (depletion rate very low at 3%). Downside would be share overhang since bbep owns 52%, and CA tax issues. Any other potential downsides anyone know about? This IPO-ed at a time that they brought out some low quality trust IPOs so I am a little suspicious, although I can only see positives to owning this one (I just bought some).
According to the Company's release, the difference was mostly attributed to the short month (Feb). The market seems to have accepted that explanation. Don't forget that this went public at $20, so not doing well from that perspective.
Keep in mind this ROYT is a perennial trust...that is it goes on and on....of course this must assume that there is still a finite total available oil resource that will in any event in the future be depleted etc.