Core Canadian Dividend Trust

Core Canadian Dividend Trust

August 20, 2010 09:22 ET

Core Canadian Dividend Trust Announces Semi-Annual Results

TORONTO, ONTARIO--(Marketwire - Aug. 20, 2010) - Core Canadian Dividend Trust (TSX:CDD.UN) (the "Fund") announces results for the six months ended June 30, 2010. Net realized income before distributions amounted to $0.4 million or $0.20 per unit. Net assets were $16.6 million or $7.07 per unit, net of distributions to unitholders in the amount of $0.6 million or $0.24 per unit.

The Fund's investment objectives are (i) to provide unitholders of the Fund with monthly cash distributions in an amount targeted to be 6.5% per annum of the net asset value ("NAV") of the Fund; and (ii) to preserve and grow the NAV per Unit. The Fund invests in a blue- chip portfolio consisting of high-quality, large capitalization, dividend paying Canadian companies across multiple industry sectors that have an excellent long-term track record of dividend growth and share price appreciation.

To generate additional returns above the dividend income earned on the Fund's investment portfolio, the Fund will, from time to time, write covered call options in respect of some or all of the securities in the 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 investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc. The Fund's Units are listed on The Toronto Stock Exchange under the symbol CDD.UN.

Statement of Financial Information: ($ Millions)  
Statement of Financial Operations  
for the six months ended June 30, 2010  
Revenue $ 0.3  
Net Realized Gain on Investments 0.4  
Less: Expenses (0.3 )
Net Realized Income Before Distributions $ 0.4  

A member of the Mulvihill Capital Management Inc. Group of Funds

Contact Information

  • Core Canadian Dividend Trust
    Investor Relations
    (416) 681-3966 or Toll Free: 1-800-725-7172