Income Financial: Further 1.4% Increase to Monthly Distribution
January 20 2014 - 9:00AM
Marketwired
Income Financial: Further 1.4% Increase to Monthly Distribution
TORONTO, ONTARIO--(Marketwired - Jan 20, 2014) - On November 18,
2013, Income Financial announced a change to the distribution
policy that resulted in an immediate increase of 23% to the monthly
dividend. Income Financial is pleased to announce a further 1.4%
increase to the monthly distribution from its previous month's
distribution, due to the increased market price of Income
Financial. The dividend for January will be $0.09092 per unit.
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 January 31, 2014 will receive a distribution of $0.09092 per
unit based on the VWAP of $10.91 over the last 3 trading days of
December 2013, payable on February 10, 2014. 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 $26.15 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: |
$0.09092 |
Ex-Dividend Date: |
January 29, 2014 |
Record Date: |
January 31, 2014 |
Payable Date: |
February 10, 2014 |
Income FinancialInvestor Relations416-304-4443Toll Free:
1-877-4-Quadra (1-877-478-2372)www.quadravest.com
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