"I am hoping they announce a div cut to $0.06/month"

I'm not. 

I'm hoping they announce something like "While a dividend cut was considered, with the recent increase in production and increase in commodity prices, the dividend is sustainable and no cut is required"... and I think that could happen given that NG is sitting at or close to the 52 week high and seems poised to move farther up.   And though Propane is down on the most recent weekly report, the overall trend still looks to be up.

Now if production + commodity prices DON'T enable the 8 cent dividend to be maintained, yeah, then by all means, reduce it to a sustainable level.

But if I had a choice... having no cut combined with PLT improving their financials so that the current dividend is sustainable is the best outcome in my view... and would likely result in a big move up in the share price eventually.

I don't know of any cases where a share price benefitted from a dividend cut.