DECLARE @Text NVARCHAR(500)
DECLARE @StringDelimiter CHAR

SELECT @Text = 'This t-sql will split these sentences into rows.' +
'How many rows will be returned?.' +
'M.a.y.b.e..n.o.n.e.?',
@StringDelimiter = '.'

;WITH Tally(Number) AS
(
    SELECT ROW_NUMBER() OVER (ORDER BY (SELECT NULL)) AS Number
    UNION ALL
    SELECT Number + 1 AS Number
    FROM   Tally
    WHERE  Number <= LEN(@Text)
)
SELECT
    CASE
        WHEN RIGHT
             (   LEFT(@Text, Number),
                 CASE
                     WHEN CHARINDEX(@StringDelimiter, REVERSE(LEFT(@Text, Number - 1)), 0) > 0
                     THEN CHARINDEX(@StringDelimiter, REVERSE(LEFT(@Text, Number - 1)), 0) - 1
                     ELSE CHARINDEX(@StringDelimiter, REVERSE(LEFT(@Text, Number - 1)), 0)
                 END
             ) = ''
             AND
             CHARINDEX(@StringDelimiter, REVERSE(LEFT(@Text, Number - 1))) = 0
        THEN LEFT (@Text, Number - 1)
        ELSE
             RIGHT
             (   LEFT(@Text, Number - 1),
                 CASE
                     WHEN CHARINDEX(@StringDelimiter, REVERSE(LEFT(@Text, Number - 1)), 0) > 0
                     THEN CHARINDEX(@StringDelimiter, REVERSE(LEFT(@Text, Number - 1)), 0) - 1
                     ELSE CHARINDEX(@STringDelimiter, REVERSE(LEFT(@Text, Number - 1)), 0)
                 END
             )
    END AS SPLIT
FROM Tally
WHERE (NCHAR(UNICODE(SUBSTRING(@Text, Number, 1))) = @StringDelimiter
    OR Number - 1 = LEN(@Text))
OPTION(MAXRECURSION 32767);