TORONTO, Nov. 19 /CNW/ - IBI Income Fund (the "Fund") (TSX: IBG.UN) today declared a cash distribution of $0.1333 per Fund Unit for the month of November 2009, payable December 31, 2009 to unitholders of record on November 30, 2009.
The Fund also announced that IBI Group Management Partnership will receive a distribution of $0.1333 per Class B Unit held by it in IBI Group for the month of November 2009 payable on December 31, 2009. As more fully described below, IBI Group is the partnership through which the professional services business of the Fund is indirectly carried on.
ABOUT THE IBI INCOME FUND
The Fund holds an indirect 72% interest in IBI Group, a partnership which provides professional services, including planning, design, implementation, analysis of operations and other consulting services in relation to four main areas of development, being urban land, building facilities, transportation networks and systems technology. The remaining 28% of IBI Group, represented by Class B Units, is owned by IBI Group Management Partnership. On a fully diluted basis, IBI Group Management Partnership has a 46% interest in the Fund.
There are currently 12,738,146 Fund Units and 5,025,778 Class B Units issued and outstanding. All of the Class B Units are owned by IBI Group Management Partnership. The Class B Units of IBI Group are exchangeable, on a one-for-one basis, for Fund Units.
The Fund is a TSX listed income trust, which pays monthly distributions and trades under the symbol "IBG.UN". Holders of units who are non-residents of Canada will be required to pay all withholding taxes payable in respect of any distributions of income by the Fund.
SOURCE IBI Group Inc.
For further information: For further information: Allan J. Kamerman, IBI Income Fund, 230 Richmond Street West, 5th Floor, Toronto, ON, M5V 1V6, Tel: (416) 596-1930, Fax: (416) 596-8024