EnerVest Diversified Income Trust

EnerVest Diversified Income Trust

March 08, 2011 20:21 ET

EnerVest Diversified Income Trust Announces Allocation of 2010 Distributions

CALGARY, ALBERTA--(Marketwire - March 8, 2011) -


EnerVest Diversified Income Trust ("EnerVest" or the "Fund") (TSX:EIT.UN), announced today the allocation of the distributions declared in 2010 to Canadian resident unitholders. 

Taxable as: % of Distribution  
Other taxable income (Investment Income) 17.62 %
Other taxable income (Not Investment Income) 6.11 %
Actual Amount of Eligible Dividends 21.49 %
Actual Amount of Non-Eligible Dividends 0.12 %
Foreign Business Income 0.70 %
Foreign Non-Business Income 1.12 %
Capital Gains -  
Return of Capital 52.84 %
  100.00 %

EnerVest distributed $1.20 per unit in 2010. Return of Capital to unitholders totaling 52.84% reduces the adjusted cost base of the unitholder's trust unit. 

T3 Tax Slips

The foregoing tax breakdown of the EnerVest distributions is provided for information purposes only. This information has been sent electronically to Investment Dealers, who are responsible for the preparation and delivery of T3 tax slips to their clients. Investors should utilize the information directly from their T3 tax slip when filing their personal income tax return. Registered unitholders (namely, unitholders who hold a physical share certificate) will receive their T3 tax slips directly from Computershare. Computershare's toll-free telephone number is 1-800-564-6253. The mailing deadline for delivery of the tax slips is March 31, 2011. However, we urge investors to contact their Investment Advisor directly to determine their specific preparation and delivery schedule.

Non-Resident Unitholders

Non-resident unitholders are not subject to the same tax breakdown as Canadian resident unitholders. Please consult your tax professional or Investment Advisor to discuss your particular situation. 

About the Fund

The Fund is one of Canada's largest, most liquid, diversified closed-end investment funds and is listed on the TSX under the symbol EIT.UN. EnerVest's portfolio is managed by Robert Haber of Haber Trilix Advisors, LP and is an actively managed, diversified portfolio of income-generating and capital growth oriented securities listed primarily on the TSX. The Fund is designed to maximize distributions and net asset value for the benefit of its unitholders.

About Canoe Financial

Canoe Financial is an experienced and innovative investment management firm focused on building financial wealth for Canadians. Canoe currently manages approximately $1.8 billion in assets through its mutual fund and closed-end products. Canoe is a strong believer in Canada as a place to invest. With continued global urbanization, increasing worldwide demand for resources and our sound fiscal structure, we believe Canada provides long-term growth potential for investors.

Canoe Financial is committed to providing exceptional client service and is a proud partner of Canada's Investment Advisor and Financial Planner network. To learn more about Canoe visit our website at www.canoefinancial.com.

Forward Looking Statement: Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect Canoe Financial LP's and its affiliates' ("Canoe") current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Canoe believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Canoe undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Investors should contact their Investment Advisor to review their investment objectives and strategies. This information is for review purposes only, and investors should consult their Investment Advisor for complete details and risk factors on specific strategies and various investment products.

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