Canadian Oil Sands Trust Falls After Dividend Cut

Canadian Oil Sands Trust, the biggest owner of the Syncrude Canada Ltd. venture, plunged after it said it will cut its dividend 60 percent. The trust, which will convert to a corporation next year, said in a statement it plans to pay shareholders a dividend of 20 cents a share for the first quarter. As a trust, Canadian Oil Sands had a quarterly cash distribution of 50 cents.

Canadian Oil Sands fell C$3.31, or 11.7 percent, to C$25.10 as of 4:17 p.m. on the Toronto Stock Exchange.

To contact the reporter on this story: Gene Laverty in Charlotte at glaverty@bloomberg.net

To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net.

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