Ann: Vita Group provides update on COVID-19 and Interim Dividend, page-16

you can’t argue both ways
what will save more money , a 50% pay cut or cutting one dividend . Given dividend was fully Franked she would have been much better off doing what you suggest , but the action taken is preemptive and wise. The key is to manage cash during this period - dividends can always be paid into the future.
I think if you invest in any dividend paying stock, one must always be prepared for dividends may not always be paid. The disappointment of not receiving a dividend if real I acknowledge, but one must also acknowledge the reasons for this move.