Oil Sands Sector Fund

March 02, 2010 15:07 ET

Oil Sands Sector Fund Announces Anticipated Distribution for 2010

TORONTO, ONTARIO--(Marketwire - March 2, 2010) - Oil Sands Sector Fund (the "Fund") (TSX:OSF.UN) is pleased to announce that its quarterly cash distribution for 2010 will be $0.125 per unit or $0.50 per annum.

The Fund determines annually its anticipated quarterly distribution target for the following year. The distribution rate was determined based upon prevailing market conditions and the Manager's estimate of distributable cash flow for the 12 months ending December 31, 2010. This represents an annual yield of 8.39% based on a market price of $5.96 per unit on March 1, 2010. 

Distribution Reinvestment Plan ("DRIP")

The Fund has adopted a Distribution Reinvestment Plan ("DRIP") which permits eligible unitholders to automatically reinvest their quarterly distributions in additional units of the Fund. Eligible unitholders may also make optional cash payments under the DRIP. These features provide eligible unitholders with an excellent opportunity to acquire additional units of the Fund. To enroll in the DRIP, please contact your financial advisor.

For further information please contact your financial advisor or visit our website at http://www.marklandstreet.com.

Contact Information

  • Media Inquiries:
    Markland Street Asset Management Inc.
    Sean T. Robitaille
    President & CEO
    (416) 360-3996