Canada: Lakeport Brewing Income Fund increasing monthly cash distributions by 11.6%
Lakeport Brewing Income Fund, an Ontario-based brewer of value-priced quality beer, announced on September 15 that its Trustees have approved an increase in the monthly cash distributions commencing September 1, 2005 by 11.6 % from $0.0896 to $0.10 per trust unit. The September distribution of $0.10 per unit will be payable on October 14, 2005 to all unitholders of record on September 30, 2005.
"We are very pleased to announce an increase in our monthly cash distributions even though it is only nearly three months since the Fund completed its Initial Public Offering and established the initial monthly payment level," said Teresa Cascioli, Chair and Chief Executive Officer.
"In view of the growing demand for Lakeport's great quality beers, the apparent continued growth of the value-priced category, Lakeport's significant role as a leader in the category, and the Fund's strong financial performance, we feel confident in increasing our cash distributions to unitholders."
About Lakeport Brewing
Lakeport Brewing Income Fund is an Ontario-based brewery focused on producing value-priced quality beer for the Ontario take-home market. Lakeport pioneered the "24 for $24" value segment. Lakeport produces nine proprietary beer brands, one of which, Lakeport Honey Lager, is one of the top selling brands in The Beer Store. Lakeport has more than 170 full-time employees at its production facilities in Hamilton, Ontario. The Fund's units trade on the TSX under the symbol TFR.UN (TFR stands for 'two-four').
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