TORONTO—Cheque printer Davis+Henderson announced plans to seek unitholder approval to convert from an income trust into a corporation, effective January 1, 2011.

The reorganization is being initiated as a result of the Federal Government’s announcement in October, 2006 that change the way income trusts are to be taxed, effective January 1, 2011.

Davis + Henderson also announced its intention to pay quarterly distributions, commencing in 2011, at an annual rate of $1.20 per share. It intends to maintain its current distributions of $1.84 per unit for the remainder of 2010. The reduced level of distributions reflects the approximate level of taxes the business will be subject to starting in 2011.