Royal Utilities Income Fund

Royal Utilities Income Fund

March 20, 2007 10:56 ET

Royal Utilities Income Fund Announces March 2007 Cash Distribution

TORONTO, ONTARIO--(CCNMatthews - March 20, 2007) - Royal Utilities Income Fund (the "Fund") (TSX:RU.UN) announced today that its Board of Trustees has approved a cash distribution of $0.07997 per unit, payable on April 13, 2007, to unitholders of record as of March 30, 2007.

About Royal Utilities Income Fund

The Fund is an unincorporated, open-ended, limited purpose trust established under the laws of Alberta. The Fund indirectly holds all of the common shares of Prairie Mines and Royalty Ltd. (the "Company"), which is the largest thermal coal producer in Canada. The Company owns and operates the Paintearth, Sheerness, Genesee (50% joint venture interest), Poplar River, Boundary Dam and Bienfait mines, and operates the Highvale and Whitewood mines under contract. A total of 37 million tonnes of coal was produced by the Company in 2005.

The Company also holds a portfolio of mineral rights located in Alberta and Saskatchewan on which it earns royalties from the production of coal and potash.

The Company's revenue is derived from two principal sources: the supply of thermal coal under long-term contracts with the major electric utilities in Alberta and Saskatchewan, and royalty payments received from certain utility customers and other parties based on coal and potash production.

Contact Information

  • Royal Utilities Income Fund
    Investor Relations
    (416) 934-7655