Top 10 Split Trust Declares Quarterly Distribution
02 Mars 2010 - 10:03PM
Marketwired
Top 10 Split Trust (the "Fund") (TSX: TXT.UN)(TSX: TXT.PR.A) has
declared a quarterly interest payment of $0.19531 on each of its
Preferred Securities and a distribution of $0.08175 on each of its
Capital Units, payable March 31, 2010 to unitholders of record as
of March 15, 2010.
The Fund's investment objectives for the Capital Units are (i)
to provide holders of Capital Units, upon redemption, with the
benefit of any capital appreciation in the market price of the
securities in the Financial Portfolio and (ii) to pay quarterly
distributions to holders of Capital Units in an amount targeted to
be 7.5% per annum of the net asset value of the Fund. The Fund's
investment objectives for the Preferred Securities are (i) to pay
holders of Preferred Securities fixed quarterly cash interest
payments of 6.25% per annum on the $12.50 principal amount of a
Preferred Security and (ii) to repay the principal amount of $12.50
per Preferred Security on termination of the Trust on March 31,
2011.
To generate additional returns above the dividend income earned
on the Fund's investment portfolio, the Fund may, from time to
time, write covered call options in respect of some or all of the
securities in the investment portfolio. In addition, the fund may
write cash covered put options in respect of securities in which it
is permitted to invest.
The Fund's Financial Portfolio is managed by its investment
manager, Mulvihill Capital Management Inc. The Fund's Capital Units
and Preferred Securities are listed on the Toronto Stock Exchange
under the symbols TXT.UN and TXT.PR.A, respectively.
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Distribution Details :
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Interest per Preferred Security: $0.19531
Distribution per Capital Unit: $0.08175
Payable Date: March 31, 2010
Record Date: March 15, 2010
Ex-Dividend Date: March 11, 2010
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A member of the Mulvihill Capital Management Inc. Group of
Funds
Contacts: Top 10 Split Trust Investor Relations (416) 681-3966
or Toll Free: 1-800-725-7172 www.mulvihill.com
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