Newalta Income Fund Announces September Distribution
CALGARY, ALBERTA - Sept. 16, 2005 /CNW/ - Newalta Income Fund (TSX:NAL.UN) ("Newalta") today announced that it has declared a cash distribution of 15 cents per trust unit for the month of September 2005, payable on October 17, 2005, to all unitholders of record on September 30, 2005. The ex-distribution date is September 28, 2005.
Based on the September 15, 2005 closing price of $24.20 per trust unit, the September distribution represents an annualized cash-on-cash yield of approximately 7.4%.
Newalta Income Fund is an open-ended trust that maximizes the inherent value in certain industrial wastes through recovery of saleable products and recycling, rather than disposal. Through an integrated network of 44 state-of-the-art facilities, Newalta delivers world-class solutions to a broad customer base of national and international corporations, in a range of industries, including the automotive, forestry, pulp and paper, manufacturing, mining, oil and gas, petrochemical, and transportation services industries. With a track record of profitable growth and environmental stewardship, Newalta is focused on leveraging its position in new service sectors and geographic markets from coast to coast.
Based on the September 15, 2005 closing price of $24.20 per trust unit, the September distribution represents an annualized cash-on-cash yield of approximately 7.4%.
Newalta Income Fund is an open-ended trust that maximizes the inherent value in certain industrial wastes through recovery of saleable products and recycling, rather than disposal. Through an integrated network of 44 state-of-the-art facilities, Newalta delivers world-class solutions to a broad customer base of national and international corporations, in a range of industries, including the automotive, forestry, pulp and paper, manufacturing, mining, oil and gas, petrochemical, and transportation services industries. With a track record of profitable growth and environmental stewardship, Newalta is focused on leveraging its position in new service sectors and geographic markets from coast to coast.
For further information: Newalta Income Fund - Ronald L. Sifton, Senior Vice President, Finance and Chief Financial Officer, (403) 206-2684; Website: www.newalta.com