Now for some good news,
Davis + Henderson Income Fund Increases Monthly Distribution
--------------------------------------------------------------------------------
Advertisement
--------------------------------------------------------------------------------
16:00 EDT Monday, July 22, 2002
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
TORONTO, July 22 /CNW/ - Davis + Henderson Income Fund (TSE: DHF.UN) today announced an increase in its July 2002 cash distribution. The July distribution will be $0.1117 per unit (equivalent to $1.34 on an annualized basis), up from previous monthly distributions of $0.1083 per unit (equivalent to $1.30 on an annualized basis). The July 2002 distribution is payable on August 30, 2002 to unitholders of record at the close of business on July 31, 2002.
The increased distribution to unitholders reflects the Fund's increase in distributable cash made available from the operating results for the period ending June 30, 2002 as well as the general growth of the Davis + Henderson business. This increase is consistent with the Fund's financial objective of providing modest growth in distributions to unitholders. Davis + Henderson has grown its business by extending the value of its core cheque supply programs and by expanding the products and services it offers to Canadian financial institutions.
Davis + Henderson Income Fund's policy is to pay monthly distributions to unitholders of record on the last business day of each month.
Holders of units who are non-residents of Canada will be required to pay all withholding taxes payable in respect of any distributions of income by the Fund.
Davis + Henderson and its predecessors have been serving Canadian financial institutions and their account holders since 1875. Through an integrated service offering, Davis + Henderson has become the market leading company in Canada assisting financial institutions with the operation of their cheque supply programs.
Further information can be found in the disclosure documents filed by Davis + Henderson Income Fund with the securities regulatory authorities, available at www.sedar.com.
%SEDAR: 00017092EB
For further information: ROBERT CRONIN, President and Chief Operating Officer, Davis + Henderson, Limited Partnership, Tel: (416) 696-7700; CATHERINE MARTIN, Chief Financial Officer, Davis + Henderson, Limited Partnership, Tel: (416) 696-7700; Website: www.dhif.com
© 2002 Canada Newswire Ltd. |
