The company said Monday it no longer would pay monthly distributions to unitholders because its operating company didn't generate enough cash to cover the distributions paid out in 2007.
The annoucement prompted traders to drop shares CAD $0.56 ($0.55/€0.37) on Tuesday, to $3.34 ($3.25/€2.24), a 14.4 percent decline, The New Brunswick Times & Transcript reported Wednesday. The loss came on the day the Toronto Stock Exchange made its largest single-day advancement in five years.
"The fund's performance in 2007 was affected by the strengthening of the Canadian dollar, vessel disruptions in the clam fleet, and lower-than-expected sales," the company said Monday.
The
