Core Canadian Dividend Trust

Core Canadian Dividend Trust

March 26, 2010 09:00 ET

Core Canadian Dividend Trust Announces Year End Results

TORONTO, ONTARIO--(Marketwire - March 26, 2010) - Core Canadian Dividend Trust (the "Fund) (TSX:CDD.UN) (TSX:CDD.WT) announces results for the year ended December 31, 2009. The net increase in net assets from operations amounted to $4.3 million or $1.44 per unit. Net assets were $17.3 million or $7.39 per unit, net of distributions to unitholders in the amount of $1.3 million or $0.43 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.

The Fund's investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc. 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.

The Fund's units and warrants are listed on The Toronto Stock Exchange under the symbols CDD.UN and CDD.WT respectively.

Selected Financial Information : ($ Millions)  
Statement of Net Assets 2009
Assets $ 22.0
Liabilities 4.7
Net Assets (Unitholders Equity) $ 17.3
Statement of Financial Operations  
Income $ 0.7
Expenses (0.7)
Net Investment Loss $ -
Net Gain on Investments 4.3
Net Increase in Net Assets  
From Operations $ 4.3

A member of the Mulvihill Capital Management Inc. Group.

Contact Information

  • Core Canadian Dividend Trust
    Investor Relations
    416.681.3966 or Toll Free: 1.800.725.7172