Middlefield Income Plus II Corp. - Final Distributions

CALGARY, Jan. 14, 2014 /CNW/ - Middlefield Group is pleased to announce the final two distributions payable to shareholders of Middlefield Income Plus II Corp. prior to the Merger on March 4th, 2014 and the first dividend payable to those shareholders that remain invested in the Mutual Fund:

 Record Date

Payable Date

 Distribution Per 
Equity Share

 January 31, 2014  February 14, 2014  $0.06
 February 28, 2014   March 14, 2014 $0.06
 March 28, 2014 March 31, 2014 $0.07*

*Income Plus Class Mutual Fund dividend

As previously announced the Fund intends to Merge on a "tax-deferred rollover" basis with Middlefield Income Plus Class (the "Mutual Fund") on March 4, 2014.

Income Plus Mutual Fund Long-term Annualized Compound Returns (as at December 31, 2013)

  Series     1 Year     3 Year     5 Year     10 Year     Since Inception  
A 11.2% 6.1% 12.3% 8.4% 9.9%

Award Winning Mutual Fund:

The Income Plus Class Mutual Fund consists primarily of North American dividend paying and fixed income securities and has achieved a 9.9% annualized compound return since inception on September 21, 2000. The Mutual Fund has never missed a monthly dividend and has consistently paid $0.07 per unit per month since 2003.

At the 2013 Lipper Awards, the Mutual Fund was named the #1 Neutral Balanced Mutual Fund over 10 years and in 2012, the Fund was named the #1 Neutral Balanced Mutual Fund over 3 and 10 years.

Following the Merger, the Mutual Fund will offer daily redemptions at net asset value and investors can also switch "tax-free" into the F-Series of Income Plus or any of the eight other Middlefield Mutual Funds Classes.

Holders of Equity Shares who do not wish to participate in the Merger have the opportunity to redeem their Equity Shares on February 28, 2014 by giving written notice prior to January 30, 2014. The redemption will be a "taxable" event for Shareholders and proceeds will be paid on March 21, 2014.

The equity shares trade on the Toronto Stock Exchange under the symbol MIP.

Certain statements in this press release may be viewed as forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, intentions, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "plans", "estimates" or "intends" (or negative or grammatical variations thereof), or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Statements which may constitute forward-looking statements relate to the proposed timing of the Merger, the expected completion thereof and the amount of distributions.  Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements including as a result of changes in the general economic and political environment, changes in applicable legislation, and the performance of each fund involved in the Merger. Actual events or results may differ materially from such forward-looking statements as a result of risks facing one or both of the funds, most of which are beyond the control of the funds. There are no assurances the funds can fulfill such forward-looking statements and the funds do not undertake any obligation to update such statements.

 

 

SOURCE Middlefield Income Plus II Corp.

For further information:

For further information, please visit our website at www.middlefield.com or contact the undersigned:

Nancy Tham, Managing Director, Sales and Marketing
(416) 847-5349