Arctic Glacier Income Fund
TSX : AG.UN

Arctic Glacier Income Fund

February 27, 2009 16:13 ET

Arctic Glacier Announces Tax Deferral Rate of 32.7% for 2008

WINNIPEG, MANITOBA--(Marketwire - Feb. 27, 2009) - Arctic Glacier Income Fund (TSX:AG.UN) today announced the return of capital allocation for distributions in 2008 for Canadian residents is 32.7 percent. The return of capital portion provides holders of trust units with significant tax deferral opportunities.

The Fund distributed $0.71690 per unit in 2008, comprised of $0.23455 tax deferred return of capital and $0.48235 other taxable income. The detailed tax allocation of each distribution in 2008 is provided in the attached table and is also available on the Fund's website at www.arcticglacierinc.com.

Distributions paid to U.S. residents during 2008 are comprised of (in Canadian dollars) $0.33367 US source income, $0.16158 Canadian source and $0.22165 tax deferred return of capital. The detailed tax allocation of each distribution in 2008 to U.S. residents is available on the Fund's website.

Holders of units who are non-residents of Canada will be subject to withholding taxes in respect of any distributions by the Fund.

Arctic Glacier Income Fund, through its operating company, Arctic Glacier Inc., is a leading producer, marketer and distributor of high-quality packaged ice in North America under the brand name of Arctic Glacier® Premium Ice. Arctic Glacier operates 38 production plants and 51 distribution facilities across Canada and the northeast, central and western United States servicing more than 75,000 retail accounts.

Arctic Glacier Income Fund trust units are listed on the Toronto Stock Exchange under the trading symbol AG.UN. There are 39.0 million trust units outstanding.

2008 Cash Distribution Summary for Income Tax Purposes

The following chart summarizes the distributions of the Fund per trust unit and tax treatment to residents of Canada for the 2008 taxation year:



Other
Divi- Taxable Return of
Record Date Payment Date dend Income Capital Total
----------------------------------------------------------------------------
January 31, 2008 February 15, 2008 - $ 0.06135 $0.03035 $ 0.09170
February 29, 2008 March 14, 2008 - $ 0.05738 $0.03432 $ 0.09170
March 31, 2008 April 15, 2008 - $ 0.06132 $0.03038 $ 0.09170
April 30, 2008 May 15, 2008 - $ 0.05932 $0.03238 $ 0.09170
May 30, 2008 June 13, 2008 - $ 0.06128 $0.03042 $ 0.09170
June 30, 2008 July 15, 2008 - $ 0.05928 $0.03242 $ 0.09170
July 31, 2008 August 15, 2008 - $ 0.06123 $0.03047 $ 0.09170
August 29, 2008 September 15, 2008 - $ 0.06119 $0.01381 $ 0.07500
----------------------------------------------------------------------------
2008 Total - $ 0.48235 $0.23455 $ 0.71690
----------------------------------------------------------------------------
Allocation 0.0% 67.3% 32.7% 100.0%


The Toronto Stock Exchange does not approve or disapprove of the adequacy or accuracy of this release.

Contact Information

  • Arctic Glacier Income Fund
    Keith McMahon
    President & CEO
    Toll free investor relations phone: 1-888-573-9237
    or
    Arctic Glacier Income Fund
    Doug Bailey
    Chief Financial Officer
    Toll free investor relations phone: 1-888-573-9237
    Website: www.arcticglacierinc.com