TSX Symbol - CDI.UN
TORONTO, March 20 /CNW/ - Custom Direct Income Fund (the Fund), a direct
marketer and leading U.S. direct-to-consumer cheque provider, announced today
a cash distribution of C$0.1125 per unit for the month of March 2007 payable
on April 13, 2007 to unitholders of record at the close of business on
March 30, 2007.
Custom Direct Income Fund's policy is to pay monthly distributions to
unitholders of record on the last business day of each month.
Holders of units who are non-residents of Canada will be required to pay
all withholding taxes payable in respect of any distributions of income by the
Fund. The Fund's distributions are net of withholding taxes based on Canadian
and U.S. withholding tax rules. For this cash distribution, 75% of the total
distribution of C$0.1125 per unit, or C$0.0843 per unit, has been allocated as
interest income and may be considered a U.S. source of interest income and,
accordingly, may be subject to U.S. withholding taxes. For a registered
Canadian unitholder who has not delivered a valid, completed Form W8-BEN (Form
W-9 if a U.S. unitholder), the U.S. withholding tax would be 30% of the
C $0.0843. If a valid, completed W8-BEN Form has been delivered, the
withholding tax would be at a reduced rate of withholding, or may be reduced
to zero if the unitholder also does not hold 10% or more of the Fund.
Custom Direct Income Fund indirectly holds 100% of the shares of common
stock of Custom Direct. Based in Maryland and Arkansas, Custom Direct has been
selling cheques, cheque-related accessories, and other products and services
directly to consumers across the United States since 1992, and offers the
industry's widest selection of cheque designs. Custom Direct is a direct
marketer and the second largest participant in the direct-to-consumer segment
of the U.S. cheque industry.
Further information can be found in the disclosure documents filed by
Custom Direct Income Fund with the Canadian securities regulatory authorities,
available at www.sedar.com.
For further information:
For further information: Brian D. Briggs, Senior Vice President-Finance
and Chief Financial Officer, email@example.com, (866) 712-7096,
www.cdifund.com, TSX Symbol - CDI.UN