TORONTO, Oct. 16, 2012 /CNW/ - The Board of Directors of TTU Ltd. (the "Trustee") in its capacity as Trustee for Top 20 U.S. Dividend Trust (the "Trust") has today declared a monthly distribution for October of CAD$0.0215 per Class A Unit and USD$0.0215 per Class U Unit payable on November 15, 2012 to holders of record at the close of business on October 31, 2012. The October distribution represents the first monthly distribution, covering the period from October 16, 2012, the closing date of the Trust's initial public offering, to October 31, 2012.
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 Fund's investment objectives are to provide unitholders with investment exposure, on a tax-advantaged basis, to an equally-weighted portfolio (the "Portfolio") comprised of the 20 highest yielding equity securities included in the Dow Jones Industrial Average (the "Dow").
The units of the Trust are listed for trading on The Toronto Stock Exchange under the symbol TUT.UN.
SOURCE: Top 20 U.S. Dividend Trust
For further information: