TORONTO, Aug. 8 /CNW/ - IBI Income Fund (the "Fund") (TSX: IBG.UN) today
declared a cash distribution of $0.113333 per Fund Unit for the month of
August 2007, payable September 28, 2007 to unitholders of record on August 31,
The Fund also announced that IBI Group Management Partnership will
receive a distribution of $0.113333 per Class B Unit held by it in IBI Group
for the month of August 2007 payable on September 28, 2007. As more fully
described below, IBI Group is the partnership through which the professional
services business of the Fund is indirectly carried on.
In addition, the Fund announced that the monthly cash distribution on its
Fund Units will be increased by $0.0075, or 6.6%, to $0.120833 per Fund Unit
($1.45 per Fund Unit per annum) effective with the distribution for the month
of September 2007, payable on October 31, 2007 to unitholders of record on
September 28, 2007. This is the fourth increase in the Fund's distribution
rate since its initial public offering in August 2004.
ABOUT THE IBI INCOME FUND
The Fund holds an indirect 63% 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 37% of IBI Group, represented
by Class B Units, is owned by IBI Group Management Partnership.
There are currently 8,567,778 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.
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