Copernican International Premium Dividend Fund
TSX : CPM.UN

June 18, 2008 16:21 ET

Copernican International Premium Dividend Fund-June 2008

BURLINGTON, ONTARIO--(Marketwire - June 18, 2008) - Copernican International Premium Dividend Fund (TSX:CPM.UN) (the "Fund") today announced that in accordance with its declaration of trust, it will suspend payment of monthly distributions on its Trust Units in order to protect the Fund's Net Asset Value and to preserve its ability to rebuild and meet its investment objectives in the long term.

The Fund's portfolio of securities comprised primarily of dividend-paying issuers based outside North America experienced a sharp decline resulting in a reduction in the Fund's net asset value. As stated in the declaration of trust of the Fund, Copernican Capital Corp. (the "Manager") may suspend distributions on the Trust Units if the Net Asset Value per Trust Unit would be less than $7.50 after giving effect to such distributions, other than any distributions required so that the Fund will not be liable for income tax under the Income Tax Act. Due to the decline in the Net Asset Value of the Fund, no distribution will be paid to unitholders of record as of June 30, 2008. A re-evaluation will be conducted next month to determine whether the distribution can be reinstated for unitholders of record as of July 31, 2008.

A unitholder that has continually held units since inception has received a total of $0.59 per unit.

Contact Information

  • Copernican Capital Corp.
    Client Service Department
    1-888-333-3240