TSX Symbol: CIX.UN
TORONTO, Jan. 23 /CNW/ - The Board of Trustees of CI Financial Income Fund ("CI") today announced a proposed distribution for 2008 of $1.98 per unit.
"This level is consistent with CI's longstanding policy of distributing all of its income," said Chief Executive Officer William T. Holland. "At CI's current asset levels, we believe that this payout is prudent and conservative, and it offers a very attractive yield to our unitholders. As always, we will continue to re-evaluate our policy on a quarterly basis."
An annual distribution of $1.98 represents an average of $0.165 per month. In 2007, CI paid a total distribution $2.20 or an average of $0.1833 per month. Today, the Board approved a monthly distribution of $0.16 commencing in March (with a payment date of March 15 and a record date of February 29), subsequent to the distributions of $0.19 per unit paid on January 15, 2008, and $0.19 to be paid on February 15, 2008.
CI Financial Income Fund (TSX: CIX.UN) is an independent, Canadian-owned wealth management company. CI offers a broad range of investment products and services, including an industry-leading selection of investment funds, and is on the Web at www.ci.com/cix.
This press release contains forward-looking statements with respect to CI and its products and services, including its business operations and strategy and financial performance and condition. Although management believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, including interest rates, business competition, changes in government regulations or in tax laws, and other factors discussed in materials filed with applicable securities regulatory authorities from time to time.
For further information: William T. Holland, Chief Executive Officer, (416) 364-1145
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