Crius Announces 2% Distribution Increase and Confirms Second Quarter 2016 Distributions

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/

TORONTO, April 11, 2016 /CNW/ - Crius Energy Trust (the "Trust") (TSX: KWH.UN) announced today that the Board of Directors of Crius Energy Administrator Inc., the administrator of the Trust (the "Board") has approved a 2% increase to distributions paid on units of the Trust ("Units"), representing an annualized increase of $0.0143 per Unit and a total annualized distribution of $0.7283 per Unit. Accordingly, distributions on Units for the months of April 2016, May 2016 and June 2016 will be paid at a rate of $0.0607 per Unit, representing a 2% increase over the previous annualized distribution rate of $0.714 per Unit.

"We are pleased with the Board's decision to approve a 2% distribution increase for the second time since the beginning of the year," commented Michael Fallquist, CEO of Crius Energy.  "With no long-term debt on our balance sheet and strong operating cash flows generated by the business, Management and the Board are very confident in the long-term outlook for Crius Energy as we continue to execute on our strategic growth plans."

Today, the Board declared the Trust's monthly distributions on Units, each in the amount of $0.0607 per Unit, through the second quarter of 2016. Such distributions are payable for each of April 2016, May 2016 and June 2016 to unitholders of the Trust as set forth below.

Record Date

Period

Ex-Distribution Date

Distribution Payable Date

Distribution Amount per Unit

April 30, 2016

April

April 27, 2016

May 16, 2016

$0.0607

May 31, 2016

May

May 27, 2016

June 15, 2016

$0.0607

June 30, 2016

June

June 28, 2016

July 15, 2016

$0.0607

 

About Crius Energy Trust

Crius Energy Trust was established to provide investors with a distribution-producing investment through the acquisition of a 43.1% ownership interest in Crius Energy, LLC. With approximately 900,000 residential customer equivalents, Crius Energy, LLC is a comprehensive energy solutions partner that provides electricity, natural gas and solar products to residential and commercial customers. Crius Energy, LLC connects with energy customers through an innovative family-of-brands strategy and multi-channel marketing approach. This unique combination creates multiple access points to a broad suite of energy products and services that make it easier for consumers to make informed decisions about their energy needs. Crius Energy, LLC currently sells energy products in 20 states and the District of Columbia with plans to continue expanding its geographic reach.

The Trust intends to continue to qualify as a "mutual fund trust" under the Income Tax Act (Canada) (the "Tax Act"). The Trust will not be a "SIFT trust" (as defined in the Tax Act) provided that the Trust complies at all times with its investment restriction which precludes the Trust from holding any "non-portfolio property" (as defined in the Tax Act). Material information pertaining to the Trust may be found on SEDAR under the Trust's issuer profile at www.sedar.com or on the Trust's website www.criusenergytrust.ca.

Cautionary Statement Regarding Forward-Looking Statements

Forward-looking statements are subject to certain risks and uncertainties, and should not be read as guarantees of future performance or results and actual results may differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include but are not limited to, the ability of the Trust to maintain a distribution on Units, the ability of Crius Energy, LLC to continue completing acquisitions and continue its organic growth strategy, Crius Energy, LLC's results of operations, financial position or cash flows, customer revenues and margins, customer additions and renewals, customer attrition, customer consumption levels, general and administrative expenses, treatment under governmental regulatory regimes, the Trust's objectives and status as a mutual fund trust and not a SIFT trust, the Trust's distributable cash and the Trust's expectations and estimates regarding the payment of distributions to Unit holders. Such assumptions, expectations, estimates, risks and uncertainties are discussed under the headings "Risk Factors" and "Special Notes to Reader – Forward-Looking Statements and Risk Factors" in the Annual Information Form of the Trust dated March 15, 2016, and under the headings "Financial Instruments and Risk Management" and "Forward-Looking Statements" in the Management's Discussion and Analysis of the Trust dated March 15, 2016. Consequently, we cannot guarantee that any forward-looking statements will materialize. Readers should not place any undue reliance on such forward-looking statements. 

SOURCE Crius Energy Trust

For further information: Michael Fallquist, Chief Executive Officer, (203) 663-7545; Roop Bhullar, Chief Financial Officer, (203) 883-9900; Kelly Castledine, Investor Relations, (416) 644-1753


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890