Precious Metals and Mining Trust (TSX: MMP.UN) announces a change to its monthly cash dividend
June 27 2013 - 7:00AM
Marketwired
The Board of Directors (the "Board") of Sentry Investments Inc.
("Sentry"), the manager of Precious Metals and Mining Trust (the
"Trust") (TSX:MMP.UN), announces that the Trust's monthly cash
distribution will be changed from its current rate of $0.07 per
unit to $0.035 per unit. This change will be effective beginning
with the monthly cash distribution payable on August 15, 2013, to
unitholders of record on July 31, 2013, and will remain at this
level until further guidance is provided by Sentry.
The Board believes that this distribution decrease is prudent
and in the best interests of the Trust and its unitholders given
the current environment for gold mining equities. It is the view of
Sentry that gold mining equities continue to trade at their lowest
valuations relative to the gold price in 25 years and, as a result,
present an excellent investment opportunity. It is the opinion of
the Board that this distribution decrease should improve
unitholders' potential total return by maintaining capital in the
Trust while continuing to provide a reasonable level of monthly
cash payout.
It is the intention of the Board to reevaluate from time to time
the Trust's monthly distribution in the context of portfolio return
expectations and to make further changes to the Trust's monthly
distribution amount when it is believed that such changes represent
a net benefit to unitholders.
SENTRY INVESTMENTS INC.
Sentry Investments was founded in 1997 and has grown to become
one of Canada's largest and fastest-growing independent asset
management companies. Sentry manages over $10 billion in assets on
behalf of more than 300,000 Canadian investors. Sentry offers a
diverse range of award-winning investment products available
through financial advisors, including domestic, international and
income-oriented mutual funds and separately managed accounts.
Sentry is one of only three firms to receive four consecutive
Brendan Wood International TopGun Asset Management Team Awards
(2009 to 2012).
Certain statements included in this news release constitute
forward-looking statements, including, but not limited to, those
identified by the expressions "expect," "intend," "will" and
similar expressions to the extent they relate to Sentry or the
Trust. The forward-looking statements are not historical facts but
reflect Sentry's current expectations regarding future results or
events including, but not limited to, the proposed timing and
methodology of reviewing of the Trust's monthly cash distribution
rate and the current rationale for the stated distribution
decrease. These forward-looking statements are subject to a number
of risks and uncertainties that could cause actual results or
events to differ materially from current expectations. Although
Sentry believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and,
accordingly, readers are cautioned not to place undue reliance on
such statements. Sentry undertakes no obligation to update publicly
or otherwise revise any forward-looking statement or information
whether as a result of new information, future events or other such
factors which affect this information, except as required by law.
For a complete disclosure record of the Trust, please visit its
profile at www.sedar.com.
Sentry Investments Inc.
Commerce Court West
199 Bay Street, Suite 4100
P.O. Box 108
Toronto, ON M5L 1E2
Tel: 416-364-9297
Fax: 416-364-1197
Contacts: Sentry Investments Investor Relations (broker/investor
inquiries) 1-888-730-4623 416-364-1197 (FAX)info@sentry.ca
www.sentry.ca
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