ARLP is an MLP they do not pay dividends (which causes me to make me think the rest of your "discussion" is equally suspect - I know better but when you come to a board with ideas that are not sound what is the point. Take a look at any chart with splits and you will see either the distribution or dividend cut by the same amount.. There may have been other factors involved (cash distributions or an increase at the same time as the split but in general the div does not stay the same.... This is common investing knowledge!!!
MIAMI--(BUSINESS WIRE)--Vector Group Ltd. (NYSE: VGR - News) today announced that it has declared a regular quarterly cash dividend on its common stock of $0.40 per share. Additionally, the Company declared its regular annual stock dividend of 5%. Both the quarterly cash and the annual stock dividends are payable on September 29, 2010 to holders of record as of September 16, 2010. ///////////////////////////////////
On yahoo they called it a stock split. Also ,they have not raised their dividend after the 2009 split .