Income Streams III

Income Streams III

February 22, 2007 14:35 ET

Income STREAMS III: Financial Results to November 30, 2006

TORONTO, ONTARIO--(CCNMatthews - Feb. 22, 2007) - Income STREAMS III Corporation ("STQ STREAMS") (TSX:STQ)(TSX:STQ.E) today announced its semi-annual financial results for the year ending November 30, 2006.

The net asset value per unit (one Capital Yield share and one Equity Dividend share) increased by $1.64 per unit to $36.14 (after all Preferred share distributions) as at November 30, 2006. The Managed Portfolio per unit was $17.40 as at November 30, 2006.

During the year, Equity Dividend shareholders received distributions at the 7% annualized rate. Capital Yield shareholders did not receive distributions under the variable distribution program as a result of the minimum managed portfolio threshold of $18 per unit not being achieved in any month during the year. Since inception of Income STREAMS III Equity Dividend shareholders have received a total of $5.66 per share, and the Capital Yield shareholders have received a total of $3.97 per share in distributions to November 30, 2006.

STQ STREAMS is a mutual fund corporation that invests in a diversified portfolio consisting principally of common shares issued by corporations whose shares are included in the S&P 500 and the S&P/TSE 60 Index.

Selected Financial Information from the Semi-annual Statement of Financial
Operations: For the year ending November 30 ($ Millions)

Income 1.440
Expenses (1.877)
Net investment income (loss) (.437)
Realized option premiums and gain on sale of investments 9.093

Change in unrealized appreciation on investments/forward agreements 1.147
Increase in net assets from operations before distributions 9.803

Contact Information

  • Income STREAMS III
    Investor Relations
    (416) 304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372)