TORONTO, Feb. 19 /CNW/ - Home Equity Income Trust (TSX: HEQ.UN) ("HOMEQ"
or the "Trust") today announced a cash distribution of $0.06 per unit for the
month of February 2009 (equivalent to $0.72 per unit on an annualized basis).
The distribution is payable to unitholders of record on February 28 and will
be paid on March 16, 2009.
Unitholders who are non-residents of Canada will be required to pay all
withholding taxes payable in respect of any distributions by the Trust.
Forward Looking Statements
Home Equity Income Trust from time to time makes written and verbal
forward-looking statements about business objectives, operations, performance,
and financial condition, including, in particular, the forecast of cash
distributions and the likelihood of HOMEQ's success in developing and
expanding its business. These may be included in the Annual Reports,
regulatory filings, reports to unitholders, press releases, Trust
presentations and other communications. These forward-looking statements are
based upon a number of assumptions and estimates that are inherently subject
to significant uncertainties and contingencies, many of which are beyond the
control of HOMEQ. Actual results may differ materially from those expressed or
implied by such forward-looking statements. HOMEQ does not undertake to update
any forward-looking statement, whether written or verbal, that may be made
from time to time.
About Home Equity Income Trust
Home Equity Income Trust provides unitholders with monthly cash
distributions from a portfolio of reverse mortgages originated by its wholly
owned subsidiary Canadian Home Income Plan Corporation. As of September 30,
2008, the portfolio generating cash returns to the Trust comprised
approximately 7,000 reverse mortgages with an accrued value of $798 million,
secured by residential properties across Canada worth approximately of $2.2
billion. CHIP (www.chip.ca), has been the main underwriter of reverse
mortgages in Canada since pioneering the concept in 1986.
The Trust's units trade on the Toronto Stock Exchange under the symbol
HEQ.UN. Additional information on HOMEQ, including annual and quarterly
reports can be viewed at www.homeq.ca.
For further information:
For further information: please contact: Gary Krikler, Senior Vice
President and Chief Financial Officer, (416) 413-4679, firstname.lastname@example.org; or
Scott Cameron, Vice President, Finance, (416) 413-6605, email@example.com