/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/
TORONTO, Oct. 15, 2014 /CNW/ - Crius Energy Trust (the "Trust") (TSX: KWH.UN), announced today that it has confirmed its 2014 Fourth Quarter distributions of $0.0583 per unit for each of October 2014, November 2014 and December 2014.
The Board of Directors of the administrator of the Trust affirm their recent decision to declare distributions for the upcoming quarter, rather than on a monthly basis, as a reflection of its views of the recent performance of Crius Energy, LLC ("Crius Energy" or the "Company").
The distributions will be paid, as shown below:
|Record Date||Period||Ex-Distribution Date||Dividend Payable Date||Dividend Amount per Unit|
|October 31, 2014||October||October 29, 2014||November 17, 2014||$0.0583|
|November 30, 2014||November||November 26, 2014||December 15, 2014||$0.0583|
|December 31, 2014||December||December 29, 2014||January 15, 2015||$0.0583|
David Kerr, Chairman of the Board of Directors stated that, "We are pleased to continue to provide our unitholders with a three-month view into the Trust's distribution plans. This decision reflects the Board's confidence in the Company's continued growth and the Board's resolve to deliver sustainable, long-term value for investors. Crius Energy is building lean, efficient operations and strengthening its energy procurement strategies while continuing to diversify its product mix and expand its geographic footprint. The initial success of these initiatives - despite rapidly changing energy market dynamics - point to a robust and maturing business model. We are confident that the combined strengths of the Company's diversified platform, along with its innovative marketing capabilities, will enable the Trust to continue to generate stable cash distributions."
About Crius Energy
Crius Energy Trust was established to provide investors with a distribution-producing investment through the acquisition of a 26.8% ownership interest in Crius Energy, LLC. With more than 600,000 residential customer equivalents, Crius Energy, LLC is a comprehensive energy solutions partner that provides electricity, natural gas and solar products to residential and commercial customers. Crius Energy, LLC connects with energy customers through an innovative family-of-brands strategy and multi-channel marketing approach. This unique combination creates multiple access points to a broad suite of energy products and services that make it easier for consumers to make informed decisions about their energy needs. Crius Energy, LLC currently sells energy products in 19 states and the District of Columbia with plans to continue expanding its geographic reach.
The Trust intends to continue to qualify as a "mutual fund trust" under the Income Tax Act (Canada) (the "Tax Act"). The Trust will not be a "SIFT trust" (as defined in the Tax Act), provided that the Trust complies at all times with its investment restriction which precludes the Trust from holding any "non-portfolio property" (as defined in the Tax Act). Material information pertaining to the Trust may be found on www.sedar.com or www.criusenergytrust.ca.
Forward-looking statements are subject to certain risks and uncertainties, and should not be read as guarantees of future performance or results and actual results may differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include but are not limited to, Crius Energy, LLC's results of operations, financial position or cash flows, customer revenues and margins, customer additions and renewals, customer attrition, customer consumption levels, general and administrative expenses, treatment under governmental regulatory regimes, the Trust's objectives and status as a mutual fund trust and not a SIFT trust, the Trust's distributable cash and the Trust's expectations and estimates regarding the payment of distributions to unitholders. Such assumptions, expectations, estimates, risks and uncertainties are discussed under "Risk Factors" and "Forward-Looking Statements" in Crius Energy's Annual Information Form dated March 28, 2013. Consequently, we cannot guarantee that any forward-looking statements will materialize. Readers should not place any undue reliance on such forward-looking statements.
SOURCE: Crius Energy Trust
For further information:
Chief Executive Officer
Chief Financial Officer
(416) 815-0700 ext. 290