I think the short answer is that there is no "divide by" and you have the full pixel dimensions in the resulting image.
I think the longer answer is more complex and involves considerations of pixel dimensions, color accuracy, and the ability to resolve fine details.
Each photo site in a classic Bayer sensor only senses one color, R G or B. In order to arrive at an RGB value for each pixel in the resulting image, a demosaicing algorithm is applied to interpolate the color using the adjacent pixels. So in terms of pixel count, you don't lose any pixels. But, interpolation can lead to false color and other artifacts which are well known and well covered. The Foveon sensor in theory does not suffer from this since each photo site records the full spectrum via 3 different, stacked photo diodes. It suffers from its own problems but at least as covered by
DP Review in April 10, 2012, the Foveon sensor is capable of "exceptional image quality at low ISO." I have no idea how the image quality compares to new Bayer-type sensors.
I think the "divide by" that you mention is most likely 4 since per the Bayer pattern, there are twice as many green sites as there are red or blue. If you look at a 2x2 section of a classic Bayer array, it looks something like this:
RG
GB
But there is not really a "divide by" since each spectrum-limited photo site is treated as a full-color photo site via the demosaic algorithm.
Regards,
Rob