OAKVILLE, ON, Oct. 22 /CNW/ - (TSX: VIC.UN): Vicwest Income Fund (the
"Fund") announced today its cash distribution for the month of October 2007.
The monthly cash distribution of $0.13 per unit is payable on November 20,
2007 to unitholders of record as of October 31, 2007.
The Fund was formed in July 2005 and began making monthly distributions
of $0.0925 per unit. Regular monthly distributions have increased three times
to the current regular monthly $0.13 per unit.
To the extent that taxable income exceeds cumulative monthly
distributions the Fund may make additional cash or in-specie distributions of
any excess, to minimize taxes paid. The Fund's ability to make future
distributions is not assured.
The Fund's policy is for unitholders of record on the last business day
of a calendar month to receive distributions during the thirty days following
the end of such month. 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.
About the Fund
The Fund, headquartered in Oakville, Ontario is Canada's leading
manufacturer and distributor of construction building products including metal
roofing, siding and other metal building products. The Fund fabricates and
markets these products under the Vicwest, Mercury Metals and Valley Truss &
Metal trade names. Under the Westeel trade name, the Fund is Canada's foremost
manufacturer of steel containment products for agricultural storage of grain
and fertilizer. The Fund's petroleum storage tanks and accessories are
manufactured and distributed under the trade names Westeel, Northern Steel
Industries and NSI. The Fund has 15 manufacturing plants strategically located
throughout Canada with approximately 1,000 dedicated employees committed to
providing quality products and excellent service to customers in domestic and
This press release contains forward-looking information within the
meaning of applicable securities laws. Forward-looking information is subject
to certain factors, including risks and uncertainties, that could cause actual
results to differ materially from what the Fund currently expects and there
can be no assurance that such statements will prove to be accurate.
Accordingly, readers should not place undue reliance on forward-looking
statements. In particular, the Fund's expectations concerning future
distributions are subject to the risk factors detailed in the Fund's
continuous disclosure filings, and there can be no assurance that such
distributions will be made.
Further information can be found in the disclosure documents filed by
Vicwest Income Fund with the securities regulatory authorities, available at
www.sedar.com and on the Fund's website www.vicwestfund.com.
For further information:
For further information: Mr. John Slattery, Chief Financial Officer,
(905) 469-5706; Mr. Colin Osborne, President & Chief Executive Officer, (905)