Income Financial: Declares Monthly Distribution
TORONTO, April 18, 2018 (GLOBE NEWSWIRE) -- Income Financial Trust ("Income Financial") declares its monthly distribution of $0.13750 per unit. The distribution is payable May 10, 2018 to unit holders on record as at April 30, 2018.
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 April 30, 2018 will receive a dividend of $0.13750 per unit based on the VWAP of $16.50 payable on May 10, 2018. The yield will remain stable at 10.00% (based on the VWAP) under this distribution policy.
Income Financial unitholders have received a total of $31.74 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.
| Distribution Details | ||
| Trust Unit (INC.UN) | $0.13750 | |
| Ex-Dividend Date: | April 27, 2018 | |
| Record Date: | April 30, 2018 | |
| Payable Date: | May 10, 2018 |
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