ATS Andlauer Income Fund
TSX : ATS.UN

ATS Andlauer Income Fund

December 08, 2006 15:51 ET

ATS Andlauer Income Fund Again Declares Year End Special Distribution

TORONTO, ONTARIO--(CCNMatthews - Dec. 8, 2006) - ATS Andlauer Income Fund (the "Fund") (TSX:ATS.UN) announced that its Board of Trustees has approved, in addition to its regular monthly distribution of $0.0974 per trust unit, an estimated one time special cash distribution of $0.21 per trust unit, to be paid on March 15, 2007 to unitholders of record at the close of business on December 29, 2006.

The exact value of the special cash distribution will be based upon the aggregate taxable income of the Fund for the fiscal year ended December 31, 2006, which is not yet complete.

This special distribution is being made because available distributable cash estimated to be generated through the fourth quarter, historically the strongest operational quarter of the business, is expected to exceed regular distributions to be paid at the annualized rate of $0.0974 per month, and is consistent with the Fund's strategy to distribute approximately 80.0% of its distributable cash to its unitholders. The Fund is obligated under its declaration of trust to distribute all taxable income earned within a calendar year.

For those unitholders holding units outside a tax deferred plan, the Fund estimates that 98% of the distributions made in 2006 will be treated as taxable income for Canadian income tax purposes and the balance as return of capital. The proportion of these figures may change when the actual results for the fiscal year are calculated.

The Fund is an open-ended trust that holds, indirectly, securities of ATS Andlauer Transportation Services Limited Partnership ("ATS Andlauer LP"). ATS Andlauer LP is a leading single source transportation solutions provider in Canada, providing integrated trucking, courier, air freight and value added transportation and distribution services to consumer product companies. It operates facilities in 23 centres across Canada and serves approximately 1,400 diversified customers.

The Fund's units trade on the Toronto Stock Exchange under the symbol ATS.UN.

Additional information relating to the Fund, including all public filings, is available on www.sedar.com.

Contact Information

  • ATS Andlauer Transportation Services GP Inc.
    Michael Andlauer
    President & Chief Executive Officer
    Suite 600, 190 Attwell Drive
    Etobicoke, Ontario M9W 6H8
    (416) 798-1379 ext 200
    or
    ATS Andlauer Transportation Services GP Inc.
    Brian Mascarenhas
    VP Finance, & Chief Financial Officer
    Suite 600, 190 Attwell Drive
    Etobicoke, Ontario M9W 6H8
    (416) 798-1379 ext 200