Core Canadian Dividend Trust
TSX : CDD.UN

Core Canadian Dividend Trust

March 29, 2011 09:24 ET

Core Canadian Dividend Trust Announces Year End Results

TORONTO, ONTARIO--(Marketwire - March 29, 2011) - Core Canadian Dividend Trust (TSX:CDD.UN) (the "Fund") announces results for the year ended December 31, 2010. The net increase in net assets from operations amounted to $1.7 million or $0.71 per unit. Net assets were $13.9 million or $7.61 per unit, net of distributions to unitholders in the amount of $1.1 million or $0.48 per unit.

The Fund's new investment objectives are (i) to provide unitholders of the Fund with monthly cash distributions in an amount targeted to be 6.5% per annum of the net asset value ("NAV") of the Fund; and (ii) to preserve and grow the NAV per unit. The Fund invests in a blue-chip portfolio consisting of high-quality, large capitalization, dividend paying Canadian companies across multiple industry sectors that have an excellent long-term track record of dividend growth and share price appreciation.

The Fund's investment portfolio is managed by its investment manager, Mulvihill Capital management Inc. To generate additional returns, the Fund may, from time to time, write covered call options in respect of some or all of the securities in portfolio. In addition, the Fund may write cash covered put options in respect of securities in which the Fund is permitted to invest.

The Fund's units are listed on Toronto Stock Exchange under the symbol CDD.UN.

Selected Financial Information: ($ Millions)    
 
Statement of Net Assets   2010
Assets $ 17.9
Liabilities   4.0
Net Assets (Unitholders' Equity) $ 13.9
 
Statement of Financial Operations    
Revenue $ 0.6
Expenses   (0.5)
Net Investment Income $ 0.1
Net Gain on Investments   1.6
Net Increase in Net Assets from Operations $ 1.7

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit www.mulvihill.com.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Contact Information

  • Mulvihill Structured Products
    John Mulvihill
    President and CEO
    416.681.3966 or 1.800.725.7172
    or
    Mulvihill Structured Products
    David Roode
    President, Fund Services
    416.681.3966 or 1.800.725.7172
    or
    Mulvihill Structured Products
    Aaron Ho
    Vice-President, Finance
    416.681.3966 or 1.800.725.7172
    or
    Mulvihill Structured Products
    121 King Street West, Suite 2600
    Toronto, Ontario, M5H 3T9
    416.681.3966 or 1.800.725.7172
    info@mulvihill.com
    www.mulvihill.com