Wednesday, 9 June 2010

Carfinco Pleased To Share Success

Carfinco Income Fund (TSX: CFN.UN)
Units issued: 23.9 million
Units fully diluted: 24 million
Current monthly distribution: $0.02
Q1/2010 special distribution: $0.04
Q2/2010 special distribution: $0.10


Tracy Graf, the CEO of Carfinco summed up yet another milestone in the fund's history with an announcement after the close of trading yesterday:

"The financial performance of the Fund during the first half of 2010 has met our expectations and we are pleased to pass this success on to our Unitholders in the form of cash distributions." This is almost an understatement as Carfinco has been on turbo drive since last summer.

Carfinco announced a special distribution for June of $0.10 plus its monthly distribution of $0.02 for a total of $0.12 being issued to Unitholders in June. The total for Q2 will be $0.16/unit.

The fund in the first half of 2010 will have distributed $0.255. Based on units that were trading around $4.25 at the time of this writing and annualizing 2010 first half distributions, the yield for unit holders is 12%.

See full news release here........................