Enerplus Announces Cash Distribution for January 2011
December 20 2010 - 5:00AM
PR Newswire (Canada)
CALGARY, Dec. 20 /CNW/ -- CALGARY, Dec. 20 /CNW/ - Enerplus
Resources Fund (the "Fund") (TSX - ERF.un, NYSE - ERF) is pleased
to announce that a cash distribution in the amount of CDN$0.18 per
unit will be payable on January 20, 2011 to all Unitholders of
record on December 31, 2010. The ex-distribution date for this
payment is December 29, 2010. The CDN$0.18 per unit distribution is
equivalent to approximately US$0.18 per unit if converted using a
Canadian/US dollar exchange ratio of 1.01. The U.S. dollar
equivalent distribution will be based upon the actual Canadian/US
exchange rate applied on the payment date and will be net of any
Canadian withholding taxes that may apply. Holders of Enerplus
Exchangeable Limited Partnership Class B units of record on
December 31, 2010 will be eligible to receive a distribution of
CDN$0.0765 per unit on January 20, 2011 based on the exchange ratio
of 0.425 of a Fund trust unit for each Enerplus Exchangeable
Limited Partnership Class B unit. Earlier this month, the Fund
received both Unitholder and court approval to convert from an
income trust to a corporation named Enerplus Corporation, pursuant
to a plan of arrangement under the Business Corporations Act
(Alberta) and related transactions. The corporate conversion is
expected to be completed on January 1, 2011. The distribution
payable on January 20, 2011 will be the last cash distribution paid
by the Fund to all trust Unitholders and holders of exchangeable
partnership units. The first dividend to all Enerplus shareholders
of record on February 10, 2011 is expected to be paid on February
20, 2011. Electronic copies of our financial statements, press
releases, and other public information are available on our website
at www.enerplus.com. Gordon J. Kerr President & Chief Executive
Officer Enerplus Resources Fund Except for the historical and
present factual information contained herein, the matters set forth
in this news release, including words such as "expects",
"projects", "plans" and similar expressions, are forward-looking
information that represents management of Enerplus' internal
projections, expectations or beliefs concerning, among other
things, future operating results and various components thereof or
the economic performance of Enerplus. The projections, estimates
and beliefs contained in such forward-looking statements
necessarily involve known and unknown risks and uncertainties,
which may cause Enerplus' actual performance and financial results
in future periods to differ materially from any projections of
future performance or results expressed or implied by such
forward-looking statements. These risks and uncertainties include,
among other things, those described in Enerplus' filings with the
Canadian and U.S. securities authorities. Accordingly, holders of
Enerplus Trust Units and potential investors are cautioned that
events or circumstances could cause results to differ materially
from those predicted. To view this news release in HTML formatting,
please use the following URL:
http://www.newswire.ca/en/releases/archive/December2010/20/c6461.html
pplease contact Investor Relations at 1-800-319-6462 or e-mail a
href="investorrelations@enerplus.com"
cr="true"investorrelations@enerplus.com/a./p
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