Toronto Stock Exchange: VIC.UN
OAKVILLE, ON, Feb. 26, 2010 /CNW/ - Vicwest Income Fund (the "Fund") (TSX: VIC.UN) announced today that the value of its special non-cash distribution paid to unitholders of record as of December 31, 2009 was $0.26 per unit.
The Fund is obligated under its Declaration of Trust to distribute all taxable income within a calendar year. The special non-cash distribution, which was paid in Fund units, ensured that the Fund fully distributed all of its 2009 taxable income. The Fund units were distributed on a pro rata basis with the value to be included in the unitholders' taxable income for the 2009 calendar year. Following the pro rata distribution, the number of outstanding Fund units was consolidated, such that each unitholder held the same number of Fund units as before the non-cash distribution.
About Vicwest Income Fund
The Fund is one of Canada's leading manufacturers and distributors of building construction products, and steel containment products for agricultural grain, fertilizer and liquid storage. Through its Vicwest building products division, headquartered in Oakville, Ontario, the Fund fabricates and markets metal roofing, siding and other metal building products under the Vicwest, Mercury Metals, Valley Truss & Metal and RCA Metal trade names. The Fund's Westeel Storage Solutions division, headquartered in Winnipeg, Manitoba, manufactures storage solutions for agricultural grain and fertilizer, as well as liquid storage tanks and accessories. These products are manufactured and distributed under the trade names Westeel, Northern Steel Industries and NSI. The Fund has 16 manufacturing facilities strategically located across Canada with more than 1,100 dedicated employees committed to providing superior quality products and delivering excellent service to customers in domestic and international markets.
SOURCE Vicwest Inc.
For further information: For further information: Colin Osborne, President & Chief Executive Officer, Vicwest Income Fund, Tel: (905) 469-5700, Fax: (905) 825-1090; John Slattery, Executive VP & Chief Financial Officer, Vicwest Income Fund, Tel: (905) 469-5706, Fax: (905) 825-1090