Crius Energy Trust

Crius Energy Trust

January 06, 2016 17:19 ET

Crius Announces 2% Distribution Increase and Confirms First Quarter 2016 Distributions

TORONTO, ONTARIO--(Marketwired - Jan. 6, 2016) -


Crius Energy Trust (the "Trust") (TSX:KWH.UN) announced today that the Board of Directors of Crius Energy Administrator Inc., the administrator of the Trust (the "Board") has approved a 2% increase to distributions paid on units of the Trust ("Units") during the first quarter of 2016, representing an annualized increase of $0.014 per Unit and a total annualized distribution of $0.714 per Unit. Accordingly, distributions on Units for the months of January 2016, February 2016 and March 2016 will be paid at a rate of $0.0595 per Unit, representing a 2% increase over the previous annualized distribution rate of $0.70 per Unit.

"In 2015 we successfully completed several acquisitions and continued our organic growth strategy, both of which have raised the growth profile of our business", commented Michael Fallquist, CEO of Crius Energy. "This growth, combined with the line of sight into the expected performance of the business in 2016 and beyond supported the decision of the Board to increase the distribution paid to Unitholders."

David Kerr, Chairman of the Board, stated: "The fundamental long-term strength and sustainability of the business is evident to the Board as the management team continues to successfully execute on key growth initiatives, operations, and risk management activities. The Board is very confident in approving this 2% dividend increase and will continue to evaluate the distribution payment on a quarterly basis. We continue our unwavering commitment to our growth strategy and delivering total return to our investors through capital appreciation and growing distributions."

Today, the Board declared the Trust's monthly distributions on Units, each in the amount of $0.0595 per Unit, through the first quarter of 2016. Such distributions are payable for each of January 2016, February 2016 and March 2016 to unitholders of the Trust as set forth below.

Record Date Period Ex-Distribution Date Distribution Payable Date Distribution Amount per Unit
January 31, 2016 January 2016 January 28, 2016 February 16, 2016 $0.0595
February 29, 2016 February 2016 February 25, 2016 March 15, 2016 $0.0595
March 31, 2016 March 2016 March 29, 2016 April 15, 2016 $0.0595

About Crius Energy Trust

Crius Energy Trust was established to provide investors with a distribution-producing investment through the acquisition of a 43.1% ownership interest in Crius Energy, LLC. With approximately 800,000 residential customer equivalents, Crius Energy, LLC is a comprehensive energy solutions partner that provides electricity, natural gas and solar products to residential and commercial customers. Crius Energy, LLC connects with energy customers through an innovative family-of-brands strategy and multi-channel marketing approach. This unique combination creates multiple access points to a broad suite of energy products and services that make it easier for consumers to make informed decisions about their energy needs. Crius Energy, LLC currently sells energy products in 20 states and the District of Columbia with plans to continue expanding its geographic reach.

The Trust intends to continue to qualify as a "mutual fund trust" under the Income Tax Act (Canada) (the "Tax Act"). The Trust will not be a "SIFT trust" (as defined in the Tax Act) provided that the Trust complies at all times with its investment restriction which precludes the Trust from holding any "non-portfolio property" (as defined in the Tax Act). Material information pertaining to the Trust may be found on SEDAR under the Trust's issuer profile at or on the Trust's website

Forward-looking statements are subject to certain risks and uncertainties, and should not be read as guarantees of future performance or results and actual results may differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include but are not limited to, the ability of the Trust to maintain a distribution on Units, the ability of Crius Energy, LLC to continue completing acquisitions and continue its organic growth strategy, Crius Energy, LLC's results of operations, financial position or cash flows, customer revenues and margins, customer additions and renewals, customer attrition, customer consumption levels, general and administrative expenses, treatment under governmental regulatory regimes, the Trust's objectives and status as a mutual fund trust and not a SIFT trust, the Trust's distributable cash and the Trust's expectations and estimates regarding the payment of distributions to Unit holders. Such assumptions, expectations, estimates, risks and uncertainties are discussed under the headings "Risk Factors" (beginning on page 67) and "Special Notes to Reader - Forward-Looking Statements and Risk Factors" (beginning on page 9) in the Annual Information Form of the Trust dated March 24, 2015, and under the headings "Financial Instruments and Risk Management" (beginning on page 19) and "Forward-Looking Statements" (beginning on page 32) in the Management's Discussion and Analysis of the Trust dated March 24, 2015. Consequently, we cannot guarantee that any forward-looking statements will materialize. Readers should not place any undue reliance on such forward-looking statements.

Contact Information

  • Crius Energy Trust
    Michael Fallquist
    Chief Executive Officer
    (203) 663-7545

    Crius Energy Trust
    Roop Bhullar
    Chief Financial Officer
    (203) 883-9900

    Crius Energy Trust
    Kelly Castledine
    Investor Relations
    (416) 644-1753