Canada: Lakeport Brewing Income Fund announced monthly cash distribution and special cash
Lakeport Brewing Income Fund (the Fund), an Ontario-based brewer of value-priced quality beer, announced September 14 its cash distribution of CA$0.13 per trust unit for the period from September 1, 2006 to September 30, 2006. The distribution is payable on October 13, 2006 to unitholders of record on September 29, 2006.
The Fund also declared a special cash distribution of CA$0.24 per unit payable on October 13, 2006 to unitholders of record on September 29, 2006. The special cash distribution represents excess distributable cash arising from the Fund's positive financial performance. The special cash distribution is not indicative of future performance.
"Our excellent performance has enabled us to reward our unitholders with a series of increases in our monthly distributions since completing our initial public offering in June 2005," said Teresa Cascioli, Chair and Chief Executive Officer of the Fund. "Our monthly payout at CA$0.13 per unit is now 45 percent more than when we went public. Further, for 2005, we were able to make a special, one-time year-end payment of 29 cents per unit. We are very pleased to be able to make yet another special cash distribution of 24 cents per unit that results in a substantial return on the investment that our unitholders have made in Lakeport."
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, two of which, Lakeport Honey Lager and Lakeport Pilsener, are two of the top ten selling brands in the province of Ontario. Lakeport has more than 200 employees at its production facility in Hamilton, Ontario.
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