Faircourt Asset Management Inc.

Faircourt Asset Management Inc.
Faircourt Split Trust

March 08, 2017 08:00 ET

Faircourt Split Trust Increases Monthly Distribution Rate

TORONTO, ONTARIO--(Marketwired - March 8, 2017) -


Faircourt Asset Management Inc., the manager of Faircourt Split Trust (the "Trust") (TSX:FCS.UN)(TSX:FCS.PR.C), announced a change in the distribution rate payable on the outstanding units ("Units") of the Trust. Commencing with the distribution payable to holders of Units of record as at March 31, 2017, the Trust will increase its monthly distribution from $0.04 to $0.06 per Unit ($0.72 per annum). Based on Monday's closing price of the Units of $5.46 on the Toronto Stock Exchange, the increased distribution would represent an annual yield of 13.2%.

Since its inception, the Trust has paid aggregate cash distributions of $4.69 per Unit.

There is no assurance that the Trust will earn sufficient returns to be able to sustain its distribution targets. Distributions on the Units are conditional upon the Trust maintaining minimum asset coverage and being current in its obligations to pay interest on the outstanding 6.00% preferred securities due June 30, 2019. The Trust's ability to continue variable distributions on the Units will depend on market conditions and the Trust's asset coverage levels. The Trust's ability to pay distributions on the Units is evaluated on a monthly basis.

Faircourt Asset Management Inc. is the Investment Advisor for Faircourt Gold Income Corp. and Faircourt Split Trust.

For further information on the Faircourt Funds, please visit www.faircourtassetmgt.com.

Certain statements contained in this news release constitute forward-looking information. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Trust, to the future outlook of the Trust and anticipated events or results and may include statements regarding the future financial performance of the Trust. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

You will usually pay brokerage fees to your dealer if you purchase or sell Units of the Trust on the Toronto Stock Exchange or other alternative Canadian trading system (an "exchange"). If the Units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying Units of the Trust and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in the public filings available at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Contact Information