EDMONTON, Feb. 4 /CNW/ - Carfinco Income Fund ("Carfinco" or the "Fund") announces that a cash distribution of 2 cents per trust unit has been declared for February 2010, an increase of 33% from January's cash distribution of 1.5 cents. The payable date is February 26, 2010, to Unitholders of record on February 19, 2010. The ex-distribution date is February 17, 2010.
"With the outstanding support of our employees and our dealer partners, we are pleased to report to our Unitholders that Carfinco has returned to the levels of financial performance achieved by the Fund prior to the economic downturn", stated Tracy Graf, CEO of the Fund. "In August 2009, when we first reinstated monthly cash distributions, our Board indicated that it would continue to act prudently in determining the amount of cash allocated to distributions in future months. Given the financial performance of the Fund over the past several quarters, and a generally improving outlook, the Board has fully endorsed an increase in the monthly distribution to 2 cents per month."
About Carfinco Income Fund
Carfinco focuses on providing consumer vehicle loans to borrowers unable to obtain financing through traditional lending sources. A network of select independent and franchise dealerships offer Carfinco's payment plan to their customers who must, along with the vehicle, meet Carfinco's underwriting guidelines. The units of the Fund trade on The Toronto Stock Exchange under the symbol "CFN.UN".
Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Fund. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements.
SOURCE Carfinco Financial Group Inc.
For further information: For further information: Mr. Tracy A. Graf, CEO & Trustee of Carfinco Income Fund, Telephone: 1-888-486-4356, Facsimile: 1-888-486-7456, E-mail: firstname.lastname@example.org OR The Howard Group Inc., Jeff Walker/Bob Beaty, Investor Relations, Telephone: 1-888-221-0915, Telephone: (403) 221-0915, E-mail: Info@howardgroupinc.com, Website: www.howardgroupinc