Bank Earnings, Dividends, & Taxes

BMO Capital Markets, 1 November 2006Trust Conversion was Never in the Cards� Even before yesterday�s initative by the federal government to directly tax income trusts, Canadian banks were unlikely to convert to income trusts in whole (or in part) for structural reasons outlined in previous commentaries (see report �In Response to a Wacky Question: Can Banks Become Income Trusts?�, September 12,