I'm new to this board & I must say that you all need to get a life. MLP's go up & down. Just take the distribution & over time all will be fine. Sometimes MLP's go up & sometimes down but those with good fundamentals like NTI are good as gold. TMHO
Since the dividend varies every quarter not sure what a cut means. My guess is that it will be at least $1. Companies usually do not like tremendous volatility in a dividend so I think they will try to smooth this out as much as possible.
NTI's variable distribution model is to distribute all distributable cash flow every quarter. Their model means no smoothing.
Agree that the term 'cut' is misleading for things like trusts and variable distribution MLPs where every payout is different.