BFI Canada Income, TimberWest Forest: Canadian Equity Preview

By John Kipphoff

Aug. 19 (Bloomberg) -- The following companies may have unusual price changes in Canadian trading tomorrow. Stock symbols are in parentheses, and share prices are from the last close in Toronto.

The Standard & Poor's/TSX Composite Index added 0.2 percent to 13,119.37.

BFI Canada Income Fund (BFI-U CN): The income trust that owns a trash-hauling company plans to lower its dividend. The trust will also convert to a corporate structure.

BFI, whose unit holders will get to vote on the proposal at a Sept. 25 special meeting, plans to list its shares on the New York Stock Exchange in addition to the Toronto Stock Exchange, following the conversion. The fund's monthly payout will be cut by 73 percent to 4.166 cents a unit beginning in January, Toronto-based BFI said in a statement distributed by Marketwire. The units added 0.3 percent to C$22.17 before trading was halted.

TimberWest Forest Corp. (TWF-U CN): The timber producer was downgraded to ``hold'' from ``buy'' by Salman Partners analyst Michael Richmond in Vancouver. The shares fell 1.7 percent to C$12.19.

To contact the reporter on this story: John Kipphoff in Toronto at jkipphoff@bloomberg.net.