Core Canadian Dividend Trust

Core Canadian Dividend Trust

May 07, 2008 08:09 ET

Core Canadian Dividend Trust Announces Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwire - May 7, 2008) - Core Canadian Dividend Trust (the "Fund) (TSX:CDD.UN) is pleased to announce that today, the Toronto Stock Exchange has accepted its Notice of Intention to make a normal course issuer bid. The Trust will have the right to purchase under the bid up to a maximum of 424,827 units (representing approximately 10% of the Trust's public float) commencing May 9, 2008. The Trust may not purchase more than 84,965 of its units (representing approximately 2% of the Trust's 4,248,271 issued and outstanding units as of April 29, 2008) in any 30-day period under the bid. Purchases made pursuant to the normal course issuer bid will be made in the open market through the facilities of the Toronto Stock Exchange. The normal course issuer bid will remain in effect until the earlier of May 8, 2009, the termination of the bid by the Trust or the Trust purchasing the maximum number of units permitted under the bid. Units purchased by the Trust pursuant to the issuer bid will be cancelled. The Trust has not purchased any units during the previous year pursuant to any issuer bid.

Management and the directors of the manager of the Trust, Mulvihill Fund Services Inc., believe that units of the Trust may become available during the proposed purchase period at prices that would make such purchases in the best interests of the Trust.

A member of the Mulvihill Capital Management Inc. Group of Funds

Contact Information

  • Mulvihill Structured Products
    John Mulvihill
    President & CEO
    (416) 681-3966 or 1-800-725-7172
    Mulvihill Structured Products
    Don Biggs
    Senior Vice President
    (416) 681-3966 or 1-800-725-7172