Monday, January 15, 2007

Canadian Income Trust: True Energy Intends to Convert to Corporate Structure

Today, Canadian Income Trust, True Energy (TUI-UN.TO), indicated it desires to convert back to a corporate structure from the current income trust structure. As I noted in an earlier post, this was a likely outcome for these income trusts. The result of this conversion is the company will reduce the dividend to 2 cents per month to be paid quarterly. The January dividend announced by True was 12 cents.
(click on chart for larger image)

Source: Yahoo! Finance

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