Core Canadian Dividend Trust

Core Canadian Dividend Trust

March 25, 2008 09:17 ET

Core Canadian Dividend Trust Announces Year End Results

TORONTO, ONTARIO--(Marketwire - March 25, 2008) - Core Canadian Dividend Trust (the "Fund) (TSX:CDD.UN) announces results for the year ended December 31, 2007. Total results from financial operations amount to a loss of $(1.7) million or $(0.28) per unit which included both realized and unrealized capital gains and losses. Net assets were $37.3 million or $8.77 per unit, net of distributions to unitholders in the amount of $3.7 million or $0.62 per unit.

The Fund's 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 above the dividend income earned on the Fund's investment portfolio, the Fund will, from time to time, write covered call options in respect of some or all of the securities in the portfolio.

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

Selected Financial Information : ($ Millions)
Statement of Net Assets 2007
Assets $ 52.7
Liabilities 15.4

Net Assets (Unitholders Equity) $37.3

Statement of Financial Operations
Income $ 1.7
Expenses (1.2)
Net Investment Income $ 0.5
Net Loss on Investments (2.2)
Net Decrease in Net Assets
From Financial Operations $ (1.7)


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