Citadel Diversified Investment Trust

Citadel Diversified Investment Trust

December 19, 2007 12:38 ET

Citadel Diversified Investment Trust Announces Regular & Special Distributions

CALGARY, ALBERTA--(Marketwire - Dec. 19, 2007) - Citadel Diversified Investment Trust ("Citadel Diversified" of the "Fund") (TSX:CTD.UN) reports the distribution to unitholders of record at the close of business on December 31, 2007 and payable on January 15, 2008 is $0.085 Cdn per unit.

In addition, Citadel Diversified announces the following special distributions:

- a special cash distribution of $0.25 per unit to unitholders of record at the close of business on December 31, 2007 and payable on January 15, 2008; and

- a special non-cash distribution of approximately $0.75 per unit to unitholders of record on December 31, 2007. This non-cash distribution will be in the form of trust units to be distributed on a pro rata basis to unitholders of record on December 31, 2007 and will be included in unitholders' income for the 2007 calendar year. Immediately after this pro rata distribution of trust units, the number of outstanding trust units will be consolidated, such that each unitholder holds, following the consolidation, the same number of trust units as before the non-cash distribution.

The special distributions are required in order to ensure that the Fund, as is required by its Declaration of Trust, is not liable to pay income taxes in respect of its current taxation year ended December 31, 2007.

Throughout the month of November 2007, Citadel Diversified repurchased 131,400 units under its mandatory repurchase program and 122,100 units under its normal course issuer bid.

The Fund's net asset value as at December 13, 2007 was $11.16 Cdn per unit. The current portfolio consists of 31% income funds, 31% oil and gas royalty trusts, 12% real estate investment trusts, 16% utility and infrastructure, and 10% cash and cash equivalents.

Top Ten Holdings at December 17, 2007:

1) Enerplus Resources Fund
2) Crescent Point Energy Trust
3) ARC Energy Trust
4) Vermilion Energy Trust
5) Yellow Pages Income Fund
6) Armtec Infrastructure Income Fund
7) IPC US Reit
8) Altagas Income Trust
9) Arctic Glacier Income Fund
10) Medical Facilities Corporation

Contact Information

  • Citadel Diversified Investment Trust
    Joe MacDonald
    Executive Vice President, Sales and Marketing