TSX Symbol: CIX.UN
TORONTO, Jan. 23 /CNW/ - The Board of Trustees of CI Financial Income
Fund ("CI") today announced a proposed distribution for 2008 of $1.98 per
"This level is consistent with CI's longstanding policy of distributing
all of its income," said Chief Executive Officer William T. Holland. "At CI's
current asset levels, we believe that this payout is prudent and conservative,
and it offers a very attractive yield to our unitholders. As always, we will
continue to re-evaluate our policy on a quarterly basis."
An annual distribution of $1.98 represents an average of $0.165 per
month. In 2007, CI paid a total distribution $2.20 or an average of
$0.1833 per month. Today, the Board approved a monthly distribution of
$0.16 commencing in March (with a payment date of March 15 and a record date
of February 29), subsequent to the distributions of $0.19 per unit paid on
January 15, 2008, and $0.19 to be paid on February 15, 2008.
CI Financial Income Fund (TSX: CIX.UN) is an independent, Canadian-owned
wealth management company. CI offers a broad range of investment products and
services, including an industry-leading selection of investment funds, and is
on the Web at www.ci.com/cix.
This press release contains forward-looking statements with respect to CI
and its products and services, including its business operations and strategy
and financial performance and condition. Although management believes that the
expectations reflected in such forward-looking statements are reasonable, such
statements involve risks and uncertainties. Actual results may differ
materially from those expressed or implied by such forward-looking statements.
Factors that could cause actual results to differ materially from expectations
include, among other things, general economic and market factors, including
interest rates, business competition, changes in government regulations or in
tax laws, and other factors discussed in materials filed with applicable
securities regulatory authorities from time to time.
For further information:
For further information: William T. Holland, Chief Executive Officer,