MONTREAL, Dec. 18 /CNW Telbec/ - GENIVAR Income Fund (TSX: GNV.UN) announced today that its monthly cash distribution of $0.125 per Fund unit covering the period from December 1 to December 31, 2009, will be paid on January 15, 2010 to unitholders of record at the close of business on December 31, 2009.
Furthermore, the Fund is pleased to declare a one-time special cash distribution of $0.45 per Fund unit that will be paid on January 15, 2010 to unitholders of record at the close of business on December 31, 2009. This special distribution ensures that the Fund will not be liable to pay income taxes for the taxation year ending on December 31, 2009. This special distribution is necessary primarily as a result of the successful performance of the Fund in 2009, bringing total distributions to $1.95 for the year ending on December 31, 2009 in comparison to $1.70 for the year ending on December 31, 2008.
GENIVAR is a leading Canadian engineering services firm providing private and public sector clients with a full range of professional consulting services through all execution phases of a project including planning, design, construction and maintenance. Its clients, which are of varying sizes, fall into various market segments such as building, industrial and power, municipal infrastructure, transportation and environment. GENIVAR is one of the largest engineering services firm in Canada in terms of number of employees with more than 3,800 managers, professionals, technicians and technologists and support staff in over 70 locations in Canada and abroad.
SOURCE GENIVAR Inc.
For further information: For further information: Marlene Casciaro, Director of Communications, GENIVAR Income Fund, (514) 340-0046, ext. 5184