/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
TORONTO, Aug. 22 /CNW/ - (TSX:KNA.UN) - Keystone North America Inc.
("KNA") and Keystone Newport ULC ("KNA ULC", and together with KNA, the
"Issuer") announced that a cash payment of C$0.08333333 per Income
Participating Security will be payable on September 17, 2007 to holders of
record of Income Participating Securities at the close of business on
August 31, 2007.
Each Income Participating Security issued by the Issuer represents one
common share of KNA and C$4.286 aggregate principal amount of 14.5%
subordinated notes of KNA ULC. The total payment of C$0.08333333 per Income
Participating Security reflects: (i) a cash dividend of C$0.03154416 per
common share for the period beginning August 1, 2007 and ending August 31,
2007; and (ii) an interest payment of C$0.05178917 per Income Participating
Security for the period beginning August 1, 2007 and ending August 31, 2007.
The Issuer's policy is for unitholders of record on the last business day
of a calendar month to receive distributions on the fifteenth day (or the next
business day if such day is not a business day) of the next calendar month.
In regards to the dividend portion of the distribution, to the extent
that the dividends are paid out of earnings and profits, KNA designates this
dividend to be an "eligible dividend" pursuant to subsection 89 (14) of the
Income Tax Act (Canada) and its equivalent in any provinces of Canada. Any
dividend distributions paid out in excess of earnings and profits will first
be classified as a return of capital and then as capital gain income. Earnings
and profits of the company are determined on an annual basis and it is not
known at this time what the earnings and profits for 2007 will be.
The Issuer, through its subsidiary Keystone Group Holdings, Inc.
("Keystone"), is a leading owner and operator of funeral homes across the
United States. Keystone owns and operates 217 funeral homes and 16 cemeteries
across the United States and the province of Ontario, making it, in
management's estimate, the fifth largest funeral home operator in North
This press release may contain forward-looking statements relating to
expected future events and financial and operating results of the KNA and KNA
ULC that involve risks and uncertainties. Actual results may differ materially
from management expectations as projected in such forward-looking statements
for a variety of reasons, including market and general economic conditions and
the risks and uncertainties detailed from time to time in the prospectus filed
with the Canadian securities regulatory authorities. Due to the potential
impact of these factors, KNA and KNA ULC disclaim any intention or obligation
to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, unless required by applicable law.
For further information:
For further information: Steven Tidwell, Chief Executive Officer, (813)
225-4653 or firstname.lastname@example.org; Stephen Shaffer, Chief Financial
Officer, (813) 225-4654 or email@example.com or visit our investor
website at www.keystonenorthamerica.ca