TORONTO, March 7, 2013 /CNW/ - The Board of Directors of TTE Ltd. (the
"Trustee") in its capacity as Trustee for Top 20 Europe Dividend Trust
(the "Trust") has today declared a cash distribution of $0.1817 per
Trust Unit. This distribution represents the first quarterly
distribution, covering the period from December 20, 2012, the closing
date of the Trust's initial public offering, to March 31, 2013.
Record and payment dates are as follows:
Distribution Amount/Trust Unit
March 28, 2013
April 15, 2013
Unitholders are entitled to receive quarterly distributions as declared
by the Trustee of the Trust. The Trustee generally intends to declare
and pay quarterly 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 quarterly 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 Trust is an investment trust whose investment objectives are to
provide unitholders with: (i) stable quarterly tax-advantaged
distributions; and (ii) the opportunity for capital appreciation
through investment exposure, on a tax-advantaged basis, to an
equally-weighted portfolio comprised of the 20 highest yielding equity
securities included in the Europe Dow.
The units of the Trust are listed for trading on The Toronto Stock
Exchange under the symbol TTE.UN.
SOURCE: Top 20 Europe Dividend Trust
For further information:
Top 20 Europe Dividend Trust
Web site: www.scotiamanagedcompanies.com