Top 20 U.S. Dividend Trust Declares Monthly Distributions

TORONTO, Nov. 21, 2012 /CNW/ - The Board of Directors of TTU Ltd. (the "Trustee") in its capacity as Trustee for Top 20 U.S. Dividend Trust (the "Trust") has today declared monthly distributions for November and December of CAD$0.0417 per Class A Unit and USD$0.0417 per Class U Unit.

Record Date Payment Date Amount per Class A / Class U
November 30, 2012 December 14, 2012 $0.0417 / USD$0.0417
December 31, 2012 January 15, 2013 $0.0417 / USD$0.0417

Unitholders are entitled to receive monthly distributions as declared by the Trustee of the Trust.  The Trustee generally intends to declare and pay monthly distributions based on the dividends and other distributions received on the underlying portfolio and premiums realized by the Trust pursuant to its option writing strategy less the operating expenses. It is expected that the monthly distributions received by Unitholders will be characterized primarily as returns of capital and capital gains for tax purposes. Amounts distributed on the units that represent returns of capital are generally non-taxable to a Unitholder but reduce the Unitholder's adjusted cost base of the Units for tax purposes.

The Fund's investment objectives are to provide unitholders with investment exposure, on a tax-advantaged basis, to an equally-weighted portfolio (the "Portfolio") comprised of the 20 highest yielding equity securities included in the Dow Jones Industrial Average.

The units of the Trust are listed for trading on The Toronto Stock Exchange under the symbol TUT.UN.

SOURCE: Top 20 U.S. Dividend Trust

For further information:

Investor Relations
Top 20 U.S. Dividend Trust
(416) 945-4173
E-mail: mc.top20us@scotiabank.com
Website: www.scotiamanagedcompanies.com