/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./
TORONTO, Dec. 14, 2009 /CNW/ - First National Financial Income Fund (TSX: FN.UN) (the "Fund") today announced that its Board of Trustees approved an estimated one-time special cash distribution for the fiscal year ending December 31, 2009. The amount of the special distribution is estimated to be $0.05 per unit and will be paid on or about February 16, 2010 to unitholders of record at the close of business on December 31, 2009. The exact value of the special cash distribution will be based on the taxable income of the Fund for the fiscal year ending December 31, 2009 and will be announced via news release once the taxable income is determined in January, 2010.
In addition, the Fund announced that its regular monthly cash distribution for the period December 1 to December 31, 2009 will be $0.125 per unit. This distribution will be payable on January 15, 2010 to unitholders of record at the close of business on December 31, 2009.
About First National Financial Income Fund
First National Financial Income Fund (TSX: FN.UN) owns a 21% interest in First National Financial LP, a Canadian-based originator, underwriter and servicer of predominantly prime residential (single family and multi-unit) and commercial mortgages. With more than $45 billion in mortgages under administration, First National is Canada's largest non-bank originator and underwriter of mortgages and is among the top three in market share in the growing mortgage broker distribution channel. For more information, please visit www.firstnational.ca.
Forward-looking statements are included in this press release. In some cases, forward-looking information can be identified by the use of terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe, "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Forward-looking information may relate to management's future outlook and anticipated events or results, and may include statements or information regarding the future financial position, business strategy and strategic goals, product development activities, projected costs and capital expenditures, financial results, distributions, risk management strategies, hedging activities, geographic expansion, licensing plans, taxes and other plans and objectives of or involving the Company. Particularly, information regarding growth objectives, any increase in mortgages under administration, future use of securitization vehicles, industry trends, future revenues and distributions is forward-looking information; more particularly, the amount of the estimated special distribution is forward-looking, and there can be no assurance that the amount of this distribution once finally determined will be equal to, in excess of or less than the amount currently estimated and referred to herein. The declaration of the estimated special distribution referred to herein is not intended nor should it be construed as indicative of future performance. Forward-looking information is based on certain factors and assumptions regarding, among other things, the Fund's actual performance, interest rate changes and responses to such changes, the demand for institutionally placed and securitized mortgages, the status of the applicable regulatory regime and the use of mortgage brokers for single family residential mortgages. These forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not, or the times by which, those results will be achieved. While management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward looking-information is subject to certain factors, including risks and uncertainties, which could cause actual results to differ materially from what management currently expects. In evaluating these statements, the reader should specifically consider various factors, including the risks outlined under ''Risk and Uncertainties Affecting the Business'' in the Fund's Management Discussion and Analysis for the nine months ended September 30, 2007 and elsewhere in the Fund's public disclosure documents filed on and available from the System for Electronic Document Analysis and Retrieval (www.sedar.com), which may cause actual events or results to differ materially from any forward-looking statement. The forward-looking statements contained in this discussion represent management's expectations as of the date hereof, and are subject to change after such date. However, management and the Fund disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
SOURCE First National Financial Corporation
For further information: For further information: Rob Inglis, Chief Financial Officer, First National Financial LP, Tel: (416) 593-1100, Email: firstname.lastname@example.org; Steve Wallace, Vice President, BarnesMcInerney Inc., Tel: (416) 367-5000, Email: email@example.com