TRADING SYMBOL:
Toronto
Stock Exchange - CWA.UN
VANCOUVER
,
Dec. 18
/CNW/ - Coast Wholesale Appliances Income Fund (the Fund) today announced a cash distribution of $0.0416 per unit for the period from
December 1, 2009
to
December 31, 2009
. This distribution is to be paid
January 15, 2010
to unitholders of record on
December 31, 2009
. This is the Fund's fifty-fourth consecutive monthly cash distribution to public unitholders. A cash distribution in the same amount will be paid to the Fund's 35% non-controlling interest by Coast Wholesale Appliances LP (Coast). In addition, the Fund declared a special, one-time distribution of $0.0416 per unit, also to be paid to unitholders of record on
December 31, 2009
and the non-controlling interest on
January 15, 2010
.
"Our performance over the past six months was stronger than we anticipated when we made the decision to reduce our distributions early this year," said
Kenneth Crump
, chairman of the board of trustees of the Fund. "We are pleased to be able to reward our unitholders for their continued support of our business."
The Fund is an unincorporated, open-ended limited purpose trust launched on
June 23, 2005
with the completion of an initial public offering of 6,525,000 trust units. It was created to acquire and hold a 65% indirect interest in Coast, a leading independent supplier of major household appliances to developers and builders of multi-family and single-family housing, and to retail customers. Founded in 1978, Coast currently operates 16 stores, with 15 locations across the four western provinces and one store in the Greater
Toronto
Area.
For further information: Jack Peck, Chief Financial Officer, Telephone: (604) 301-3400 or email [email protected], Website: www.coastincomefund.com
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