TORONTO, June 13 /CNW/ - The Board of Directors of Utility Corp. (the
"Company") has today declared a regular monthly cash dividend distribution of
$0.175 per Class C Share payable on June 29, 2007 and a capital gains dividend
on its Class C Shares in an amount of $3.698 per Class C Share, payable in
Class C Shares and not in cash, on June 29, 2007, both to holders of record at
the close of business on June 26, 2007. This capital gains dividend will
increase the adjusted cost base of a holder's Class C Shares by $3.698 per
share, as described below.
The Company realized a capital gain due to the deemed disposition of
Aliant Inc. in July 2006, subject to the terms of Aliant Inc.'s plan of
arrangement. Pursuant to the Class C Share provisions, the Company is
declaring a capital gains dividend in shares on its Class C Shares.
Immediately following payment of such dividend, the number of Class C Shares
outstanding will be consolidated such that the number of Class C Shares
outstanding will be equal to the number of Class C Shares outstanding
immediately prior to such payment. This capital gains dividend will increase
the adjusted cost base of a holder's Class C Shares by $3.698 per share.
Shareholders are entitled to receive dividends as declared by the Board
of Directors of Utility Corp. It is the Company's policy to declare and pay
equal monthly dividends on the outstanding Class C Shares based on revenue
received less expenses.
Utility Corp. is a mutual fund corporation whose investment portfolio
consists of publicly listed securities of selected Canadian utility issuers.
The Class C Shares of Utility Corp. are listed for trading on the Toronto
Stock Exchange under the symbol UTC.C.
For further information:
For further information: Investor Relations, Utility Corp., (416)
863-7893, E-mail: email@example.com, Web site: