Canfor Pulp Income Fund announces increase in monthly distribution
Sep 21, 2010. Giving consideration to the accumulated undistributed cash generated by Canfor Pulp Limited Partnership during 2010 and the Partnership's current projection of pulp prices for the remainder of the year, Canfor Pulp Income Fund (the "Fund") announced an increase in the monthly cash distribution to $0.25 per Fund unit.
Sep 21, 2010. /Lesprom Network/. Giving consideration to the accumulated undistributed cash generated by Canfor Pulp Limited Partnership (the "Partnership") during 2010 and the Partnership's current projection of pulp prices for the remainder of the year, Canfor Pulp Income Fund (the "Fund") announced an increase in the monthly cash distribution to $0.25 per Fund unit.
Accordingly, the Fund has declared a cash distribution of $0.25 per Fund unit for the month of September 2010, to be paid on October 15, 2010 to unitholders of record at the close of business on September 30, 2010.
The Fund is an unincorporated, open-ended trust established under the laws of Ontario, created to indirectly acquire and hold an interest in the Canfor Pulp Limited Partnership. The Fund indirectly holds a 49.8% interest in the Partnership with Canadian Forest Products Ltd. (a subsidiary of Canfor Corporation) holding the remaining 50.2% interest. The unitholders have approved the conversion of the Fund to a corporation effective January 1, 2011.