Income Financial: 23% Increase to Monthly Distribution
November 18 2013 - 7:00AM
Marketwired Canada
Income Financial is pleased to announce an immediate increase in its monthly
distribution policy that will increase the monthly distribution by 23% from its
previous month's distribution. The dividend for November will be $0.08517 per
unit.
In making this change, the Manager considered the following in its analysis:
-- The strong investment performance of Income Financial this year.
-- In addition to paying monthly distributions at a rate of 8.5%, the trust
also increased its net asset value by a further 20% this year alone.
-- The new distribution policy better reflects the strong performance of
Income Financial's investment portfolio.
Under the new distribution policy, the monthly distribution will be determined
by applying a 10% annualized rate on the volume weighted average market price
(VWAP) of Income Financial's units over the last 3 trading days of the preceding
month. As a result, holders of record on November 29, 2013 will receive a
distribution of $0.08517 per unit based on the VWAP of $10.22 over the last 3
trading days of October 2013. Effectively the amount of the new distribution
policy will vary with the market price, but the current yield will remain stable
at 10% (based on the VWAP) under this distribution policy.
Income Financial unitholders have received a total of $25.97 per unit in
distributions since inception, inclusive of this distribution.
Income Financial invests in a portfolio of North American financial services
companies including some of the strongest Canadian & U.S. banks, life insurance
and investment firms.
Distribution Details:
Variable Distribution per Unit: $0.08517
Ex-Dividend Date: November 27, 2013
Record Date: November 29, 2013
Payable Date: December 10, 2013
FOR FURTHER INFORMATION PLEASE CONTACT:
Income Financial Trust
Investor Relations
416-304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372)
www.quadravest.com
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