Spinrite Income Fund

Spinrite Income Fund

May 18, 2006 06:02 ET

Spinrite Income Fund Announces May Distribution

LISTOWEL, ONTARIO--(CCNMatthews - May 18, 2006) - Spinrite Income Fund (TSX:SNF.UN) announced today its cash distribution of $0.04 per unit for the period May 1, 2006 to May 31, 2006. This distribution will be made to unitholders of record at the close of business on May 31, 2006, and will be payable on June 15, 2006.

Due to the volatility and ongoing contraction of the yarn market, there can be no assurance that the current monthly distribution rate can be sustained. The Board of Trustees will continue to closely monitor the distribution rate relative to the Fund's performance.

Spinrite Income Fund (TSX:SNF.UN) is the largest producer and marketer of craft yarn in Canada and one of the largest in the United States. Established in 1952, Spinrite researches, develops, manufactures and markets a broad variety of consumer craft yarns. The company also supports its market with patterns that provide customers with creative ideas for knitted products. Spinrite has approximately 520 employees at its fully integrated manufacturing and distribution centre in Listowel, Ontario.

Contact Information

  • Spinrite Income Fund
    Ryan Newell
    Chief Financial Officer
    (519) 291-3780, ext. 278
    (519) 291-3232 (FAX)