TORONTO, July 15, 2014 /CNW/ - The Board of Directors of T20 Ltd. (the "Trustee") in its capacity as Trustee for Top 20 Dividend Trust (the "Trust") has today declared monthly distributions for July, August and September of $0.0583 per Trust Unit.
Record and payment dates are as follows:
|Record Date||Payment Date||Distribution Amount/Trust Unit|
|July 31, 2014||August 15, 2014||$0.0583|
|August 29, 2014||September 15, 2014||$0.0583|
|September 30, 2014||October 15, 2014||$0.0583|
Unitholders are entitled to receive monthly distributions as declared by the Trustee of the Trust. The Trustee generally intends to declare and pay monthly distributions based on the dividends and other distributions received on the underlying portfolio and premiums realized by the Trust pursuant to its option writing strategy less the operating expenses.
The Trust's investment objectives are to provide unitholders with: (i) stable monthly distributions; and (ii) the opportunity for capital appreciation through investment exposure to an equally-weighted portfolio comprised of the 20 highest yielding equity securities included in the S&P/TSX 60 Index.
The units of the Trust are listed for trading on The Toronto Stock Exchange under the symbol TTY.UN.
SOURCE: Top 20 Dividend Trust
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