Sentry Select FIDAC U.S. Mortgage Trust (TSX: SSF.UN) Announces Quarterly Distribution of $0.16 Per Unit
13 Novembre 2007 - 10:58PM
Marketwired
TORONTO, ONTARIO is pleased to announce that Sentry Select FIDAC
U.S. Mortgage Trust's (the "Trust") (TSX: SSF.UN) quarterly
distribution for November 2007 will be increased to $0.16 per unit,
up from $0.13 per unit for the previous quarter. This is the third
distribution increase in 2007, due to improving spreads between the
cost of financing and the income earned on the portfolio.
"In an environment in which the credit markets continue to
deteriorate and show extreme amounts of volatility, we are pleased
to be announcing a distribution increase of 23% from the previous
quarter, as the benefits of owning a portfolio of high-quality U.S.
Agency mortgage-backed securities are realized by our
shareholders," said Ron Kazel, Managing Director, FIDAC.
The distribution is payable on December 14, 2007 to unitholders
of record on November 30, 2007.
Sentry Select FIDAC U.S. Mortgage Trust
Through a limited partnership, the Trust invests in a portfolio
consisting primarily of mortgage-backed securities with actual or
implied AAA rating, issued by the U.S. agencies commonly known as
Ginnie Mae, Fannie Mae and Freddie Mac. The investment objective of
the Trust is to generate net income for distribution to investors
from the spread between the interest income on its mortgage-backed
securities and the cost of borrowing to finance their
acquisition.
Future distributions
The distribution is based upon the current make-up of the
Trust's portfolio. If the make-up of the portfolio changes, the
distributions could change.
Sentry Select Capital Corp.
Sentry Select is a Canadian wealth management company that
manages approximately $8 billion in gross assets as of October 31,
2007. The company offers a diverse range of investment products
including closed-end trusts, mutual funds, principal-protected
notes and flow-through limited partnerships, covering a variety of
domestic and global mandates. With 29 reporting issuers, Sentry
Select is the manager and/or advisor to more Toronto Stock
Exchange-listed entities than any other investment manager. In
addition, Sentry Select manages and/or provides advisory services
to four reporting issuers listed on the TSX Venture Exchange.
This news release contains forward-looking statements that
involve risks and uncertainties. These forward-looking statements
relate to, among other things, the future performance of the Trust,
including the potential for future distributions. These statements
reflect Sentry Select's current expectations, but are subject to a
number of risks and uncertainties. Due to the many risks and
uncertainties, Sentry Select cannot assure that the forward-looking
statements contained in this news release will be realized.
The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4
Contacts: Sentry Select Capital Corp. Investor Services
(broker/investor inquiries) 1-888-246-6656 (416) 364-1197 (FAX)
Sentry Select Capital Corp. Kinga Lam (media inquiries)
1-888-246-6656 (416) 364-1197 (FAX) Email: info@sentryselect.com
Website: www.sentryselect.com
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