First Asset Closed-End Funds

First Asset Closed-End Funds
First Asset

First Asset

January 09, 2014 07:00 ET

First Asset Closed-End Funds Confirms Distributions for Year-End 2013

TORONTO, ONTARIO--(Marketwired - Jan. 9, 2014) - First Asset confirms the regular distributions ("Regular Distributions") previously announced on December 18, 2013, for the period ending December 31, 2013. The special distribution announced on December 18, 2013, in respect of First Asset Canadian REIT Income Fund has been revised as noted below under the heading "Special Distribution".

Regular Distributions

The following Regular Distributions will be paid in cash on or before January 15, 2014, to holders of record on December 31, 2013.

Name TSX Symbol Confirmed Regular
Distribution (per unit)
First Asset Yield Opportunity Trust - Series A FAY.UN $ 0.1458
First Asset Yield Opportunity Trust - Series B FAY.U $ 0.044 (USD)
First Asset Canadian REIT Income Fund RIT.UN $ 0.05
First Asset Pipes & Power Income Fund EWP.UN $ 0.03
Utility Split Trust - Capital Units UST.UN $ 0.05
Utility Split Trust - Preferred Shares UST.PR.B $ 0.13125
Triax Diversified High-Yield Trust TRH.UN $ 0.07
First Asset Diversified Convertible Debenture Fund DCD.UN $ 0.30
Preferred Share Investment Trust PSF.UN $ 0.175
First Asset CanBanc Split Corp. - Preferred Shares CBU.PR.A $ 0.1625
CanBanc Income Corp. CIC $ 0.175
Can-60 Income Corp. CSY $ 0.1625
Canadian Advantaged Convertibles Fund ADC.UN $ 0.15
Can-Financials Income Corp. FIC $ 0.15
North American Advantaged Convertibles Fund NCD.UN $ 0.125
First Asset Canadian Dividend Opportunity Fund II DVF.UN $ 0.04167
CanBanc 8 Income Corp. CBF $ 0.15
First Asset Morningstar U.S. Consumer Defensive Index Fund UCD.UN $ 0.05
First Asset U.S. & Canada LifeCo Income Fund ULC.UN $ 0.235 [Note 1]
Note 1 - Includes a pro- rated amount for the period from the Fund's first day of trading (August 22, 2013) to December 31, 2013.

Special Distribution

The special distribution announced on December 18, 2013 in respect of First Asset Canadian REIT Income Fund has been revised (the "Special Distribution") as noted in the table below. The Special Distribution is confirmed and will be paid in cash and in units. One-quarter will be paid in cash, and the balance will be paid by the issuance of units of the Fund, and immediately thereafter, the issued and outstanding capital of the Fund will be consolidated such that the number of issued and outstanding units of the Fund does not change. As a result, the net asset value per unit of the Fund will decrease by an amount equal to the cash portion of the Special Distribution. The cash portion of the Special Distribution is intended to cover the maximum tax liability for capital gains for unitholders in the highest marginal tax bracket (premised on the special distribution being comprised of capital gains).

The Special Distribution will be paid (in cash or in securities as described above) on or before January 15, 2014 to holders of record on December 31, 2013.

Name TSX
Symbol
Estimated
Special Distribution
(per unit)
Revised, Confirmed Special Distribution (per unit)
In Cash In Units In Cash In Units
First Asset Canadian REIT Income Fund RIT.UN $0.21 $0.64 $0.198 $0.594

For further information, please www.firstasset.com.

Contact Information