If I had to guess the dividend gets chopped to .10c a month$1.20 per year at $17 still yields 7%.. But when you have other choices like ENB or IPL also yielding around that level it still doesn't seem attractive despite the huge sell off.
Very disappointed in the ALA management who mislead investors about the 8-10% annual dividend increases promised after WGL closed. I think they used that line to sell a deal that on the whole that wasn't as attractive as they led investors to believe.