Premium Brands Income Fund
TSX : PBI.UN

Premium Brands Income Fund

March 23, 2006 09:00 ET

Premium Brands Income Fund Announces March 2006 Distribution and Summary of Cash Distributions for 2005 Income Tax Purposes

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 23, 2006) - Premium Brands Income Fund (TSX:PBI.UN) announced today a cash distribution of $0.098 per unit for the month of March, 2006. The distribution will be made to unitholders of record at the close of business on March 31, 2006 and will be payable on April 17, 2006.

Based on a March 22, 2006 unit closing price of $10.19 per unit, the $0.098 per unit distribution equates to an annualized yield of 11.5%.

Premium Brands Income Fund is also pleased to provide the following table outlining the final income tax components for distributions declared for the 2005 year:



Return of
Taxable Capital
Cash Amount Amount
Distribution (60.0%) (40.0%)
Record Date Payment Date ($CDN) ($CDN) ($CDN)
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Aug 31 2005 Sep 15 2005 0.1138 0.06828 0.04552
Sep 30 2005 Oct 14 2005 0.0980 0.05880 0.03920
Oct 31 2005 Nov 15 2005 0.0980 0.05880 0.03920
Nov 30 2005 Dec 15 2005 0.0980 0.05880 0.03920
Dec 30 2005 Jan 16 2006 0.0980 0.05880 0.03920
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TOTAL 0.5058 0.30348 0.20232
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Premium Brands owns a broad range of branded specialty food businesses with manufacturing and distribution facilities located in British Columbia, Alberta, Saskatchewan, Manitoba and Washington. In addition, the Fund owns proprietary food distribution networks through which it distributes both its own products and those of third parties.

FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements with respect to Premium Brands, including its business operations strategy and financial performance and condition. These statements generally can be identified by the use of forward-looking words such as "may", "could", "should", "would", "will", "expect", "intend", "plan", "estimate", "project", "anticipate", "believe" or "continue", or the negative thereof or similar variations. Although management believes that the expectations reflected in such forward-looking statements are reasonable and represent the Fund's internal expectations and belief at this time, such statements involve unknown risks and uncertainties which may cause the Fund's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from the Fund's expectations include, among other things: (i) seasonal fluctuations in the Fund's sales; (ii) changes in the cost of raw materials used for the Fund's products; (iii) changes in consumer preferences for food products; (iv) competition from other food manufacturers and distributors; (v) new government regulations affecting the Fund's business and operations; and (vi) other factors discussed or referenced in the "Risk Factors" section included in the Premium Brands' Prospectus dated July 15, 2005 which is filed electronically through SEDAR. It and additional information on Premium Brands is available online at www.sedar.com.

The Fund disclaims any intention or obligations to revise forward-looking statements whether as a result of new information, future developments, or otherwise.


Contact Information

  • Premium Brands Income Fund
    George Paleologou
    President
    (604) 656-3100
    or
    Premium Brands Income Fund
    Will Kalutycz
    CFO
    (604) 656-3100