These trusts aim to maintain their payouts

Article Excerpt

FORT CHICAGO ENERGY PARTNERS L.P. $10.11 (Toronto symbol FCE.UN; Units outstanding: 140.7 million; Market cap: $1.4 billion; SI Rating: Extra Risk; Dividend yield: 9.9%) owns and operates energy pipelines and processing plants across North America. One of its major holdings is a 50% interest in the Alliance natural-gas pipeline, which runs 3,000 kilometres from Fort St. John, B.C., to Chicago. Enbridge Inc. owns the other 50%. Fort Chicago and Enbridge also own 85.4% of the Aux Sable natural gas liquids plant. As well, Fort Chicago owns 100% of the 1,324-kilometre Alberta Ethane Gathering System. In the three months ended March 31, 2010, Fort Chicago’s revenue rose 6.1%, to $160 million from $150.8 million a year earlier. Cash flow per unit was unchanged at $0.23. Fort Chicago plans to convert to a dividend-paying corporation before Ottawa starts taxing income trusts on January 1, 2011. It will likely complete its conversion in the fourth quarter of 2010. The trust believes it can maintain its $1.00-per-unit distribution…

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