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Name | Symbol | Market | Type |
---|---|---|---|
Income Financial Trust | TSX:INC.UN | Toronto | Trust |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 7.88 | 7.75 | 7.99 | 0 | 12:01:06 |
TORONTO, ONTARIO--(Marketwired - Dec 18, 2013) - 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 5% increase to the monthly distribution from its previous month's distribution, due to the increased market price of Income Financial. The dividend for November will be $0.08967 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 December 31, 2013 will receive a distribution of $0.08967 per unit based on the VWAP of $10.76 over the last 3 trading days of November 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 $26.05 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: | $0.08967 |
Ex-Dividend Date: | December 27, 2013 |
Record Date: | December 31, 2013 |
Payable Date: | January 10, 2014 |
Income FinancialInvestor Relations416-304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372)www.quadravest.com
1 Year Income Financial Chart |
1 Month Income Financial Chart |
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