Park Lawn Income Trust
TSX VENTURE : PLC.UN

Park Lawn Income Trust

April 29, 2009 16:32 ET

Park Lawn Income Trust Announces Financial Results for the Year Ended December 31, 2008

TORONTO, ONTARIO--(Marketwire - April 29, 2009) - Park Lawn Income Trust (the "Fund") (TSX VENTURE:PLC.UN) announced today the financial results for 2008. The Fund generated net income of $2,362,468 or $0.69 per unit for the year ending December 31, 2008.

The Fund met its objective of distributing $.055 per unit per month during the period for a total per unit distribution of $0.66 per unit for the year ending December 31, 2008. On an annualized basis, this represents a 12.1% yield based on the unit price of $5.45 at December 31, 2008. Since the Fund's creation on July 12, 2006, the Fund has paid continuous monthly distributions of $0.055 per unit and a special non-cash distribution of .0154 units per unit was paid in December of 2007.

The Fund's 2008 Financial Statements and Management's Discussion and Analysis have been filed at SEDAR (www.sedar.com).

Park Lawn Income Trust is a trust established to indirectly hold six cemeteries in the Greater Toronto Area and an interest in Bloorpark Developments Inc. Its units are listed on the TSX Venture Exchange.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Park Lawn Income Trust
    Frank Mills
    Chief Executive Officer
    416-231-1462
    or
    Park Lawn Income Trust
    Larry Boland
    Chief Financial Officer
    416-231-1462
    416-233-8155 (FAX)