October 19, 2016 09:00 ET
TORONTO, ONTARIO--(Marketwired - Oct. 19, 2016) - Income Financial Trust ("Income Financial") declares its monthly distribution of $0.10308 per unit. The distribution is payable November 10, 2016 to unit holders on record as at October 31, 2016.
Under the distribution policy announced on November 18, 2013, the monthly distribution is determined by applying a 10.00% annualized rate on the volume weighted average market price (VWAP) of Income Finanical's units over the last 3 trading days of the preceding month. As a result, holders of record on October 31, 2016 will receive a dividend of $0.10308 per unit based on the VWAP of $12.37 payable on November 10, 2016. The yield will remain stable at 10.00% (based on the VWAP) under this distribution policy.
Income Financial unitholders have received a total of $29.25 per unit in distributions since inception, inclusive of this distribution.
Income Financial invests in a portfolio of North American financial services companies including some of the strongest Canadian & U.S. banks, life insurance and investment firms.
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