CanWel Building Materials Group Ltd.

CanWel Building Materials Group Ltd.

May 20, 2008 08:30 ET

CanWel Building Materials Income Fund Declares May Cash Distribution

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 20, 2008) -


CanWel Building Materials Income Fund (the "Fund") (TSX:CWX.UN) today declared a cash distribution of $0.05833 per trust unit for the period from May 1, 2008 to May 31, 2008.

The May cash distribution will be paid on June 20, 2008 to unitholders of record at the close of business on May 30, 2008. The Fund's policy is for unitholders of record on the last business day of a calendar month to receive distributions on or about the 20th day following the end of such month.

The Fund trades on the Toronto Stock Exchange under the symbol CWX.UN and is one of Canada's largest national distributors in the building materials and related products sector, operating 17 distribution centres across Canada. The Fund distributes a wide range of hardware, building materials, lumber and renovation products.

Further information can be found in the disclosure documents filed by CanWel Building Materials Income Fund with the securities regulatory authorities, available at

Certain statements in this press release may constitute "forward-looking" statements. When used in this press release, such statements use words, including but not limited to, "may", "will", "expect", "believe", "plan", "intend", "anticipate" and other similar terminology. These forward-looking statements reflect the current expectations of the Fund's management regarding future events but involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Fund, including the performance of, and distributable cash generated by, its subsidiaries, on a consolidated basis, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual events could differ materially from those projected herein and depend on a number of factors. These factors include the risk that acquisitions will not be integrated successfully; the risk that any cost savings and any synergies from transactions may not be fully realized or may take longer to realize than expected; and disruption from acquisitions making it more difficult to maintain relationships with customers, employees or suppliers. Additional risks and uncertainties include, among others: general economic and business conditions, product selling prices, commodity price fluctuations, information systems risk, environmental risk, interest rate changes, operating costs, and competitive conditions. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. The foregoing risk factors are not exhaustive and are merely illustrative; additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the periodic and other reports filed by the Fund with Canadian Securities Commissions and available on Sedar ( The Fund does not undertake, and specifically disclaims, any obligation to update or revise any forward looking information, whether as a result of new information, future developments or otherwise.

Reference is made above to distributable cash. We define distributable cash as net earnings before depreciation, amortization, gain or loss on sale of fixed assets, goodwill impairment loss, provision for future income taxes, unit based compensation and after maintenance of business capital expenditure and contributions to any reserves the Board of Trustees of the Fund deem to be reasonable and necessary for the operations of the Fund.

Management of CanWel believes that distributable cash is a useful financial measure as it provides investors with an indication of cash available for distribution and is a measure generally used by Canadian income funds as an indicator of financial performance. Distributable cash, however, is not a measure of earnings or financial performance recognized by Canadian generally accepted accounting principles (''GAAP'') and does not have standardized meanings prescribed by GAAP. Items excluded from distributable cash are significant to understanding and assessing financial performance. Distributable cash should not be considered in isolation or as alternatives to net income, cash flows generated by operations or other financial statement data presented in the consolidated financial statements of the Fund, as indicators of financial performance or liquidity under GAAP. Because distributable cash is not a measure determined in accordance with GAAP, as presented, investors are cautioned that distributable cash may not be comparable to similarly-titled measures presented by other issuers (such as other income funds).

Contact Information

  • CanWel Building Materials Income Fund
    Ali Mahdavi
    Investor Relations
    (416) 962-3300 or 1-866-430-6247