ENERGY TRUSTS / NCE Diversified Income Trust (NCD.UN) February
Distribution 3 Cents Per Unit
TSE, ME SYMBOL: NCD.UN
FEBRUARY 24, 1998
TORONTO, ONTARIO--John Driscoll, President of NCE Resources Group,
announced today that NCE Diversified Income Trust has declared a
cash distribution of three cents ($0.03) per unit.
Date payable
The distribution is payable on March 6, 1998 to holders of record
on February 27, 1998.
Distributions
Distributions are paid monthly and tend to fluctuate because many
of the Trust's portfolio holdings distribute quarterly. This means
that NCE Diversified Income Trust's distributions are highest at
the end of each quarter.
/T/
Top 10 holdings
The top ten holdings in the portfolio by weighting are:
ARC Energy Trust
Canadian Oil Sands Trust
Superior Propane Income Fund "Installment Receipts"
Northland Power Income Fund
NAL Oil & Gas Trust
Prime West Energy Trust
Enermark Income Fund
Pembina Pipeline Income Fund
Orion Energy Trust
Pengrowth Energy Trust IR
NAVPU
The Net Asset Value Per Unit (NAVPU) as of February 19, 1998 was
$5.14.
NCE DIT
NCE Diversified Income Trust is a closed-end trust with the
objective of maximizing distributions to unitholders by investing
in energy related royalty and income trusts, and to a lesser
extent, other investment trusts. It trades on the Toronto Stock
Exchange and the Montreal Exchange under the symbol NCD.UN.
Distributions
Distributions since initial offering:
Month Amt. of distribution
April 1997 $0.0125
May 1997 $0.0075
June 1997 $0.0400
July 1997 $0.0200
August 1997 $0.0200
September 1997 $0.0600
October 1997 $0.0300
November 1997 $0.0275
December 1997 $0.1120
January 1998 $0.0240
February 1998 $0.0300
Total distribution: $0.3835
NCE Resources Group
NCE Resources Group was formed in 1984 as an oil and gas
investment management organization. It provides a full range of
technical, operational, administrative and investor services. NCE
currently has raised $800 million from over 40,000 investors and
has interests in over 5,000 oil and gas wells. The company
employs approximately 130 people in the areas of engineering,
land management, marketing, geology, accounting, finance and
investor relations. Total oil and gas production ranks NCE among
the top 30 oil and gas companies in Canada.
Reinvestment Plan
NCE's Distribution Reinvestment and Unit Purchase Plan allows
Canadian unitholders of NCE Diversified Income Trust to acquire
additional units by re-investing their cash distributions or by
making optional cash payments.
More Info
For more information, please contact:
Investor Services (investor enquiries)
(416) 364-8788 or 1-888-739-4623
Internet: www.nceresources.com
e-mail: nce@interramp.com
Hours of service (x):
Monday -- Thursday 8 am - 8 pm eastern time
Friday 8 am - 6 pm
(x) except on Canadian statutory holidays. |
