Newalta Income Fund Announces May Distribution
CALGARY, ALBERTA--Newalta Income Fund ("Newalta") today announced
that it has declared a cash distribution of $0.09 per trust unit
for the month of May 2003 payable on June 16, 2003 to all
unitholders of record on May 30, 2003. The ex-distribution date
is May 28, 2003.
Based on the May 16, 2003 closing price of $9.09 per trust unit,
the April distribution represents an annualized cash-on-cash
yield of approximately 11.9%.
Newalta Income Fund is an open-ended trust that maximizes the
inherent value in industrial wastes through recovery of saleable
products and recycling, rather than disposal. Through an
integrated network of 34 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 strong track record of
profitable growth and environmental stewardship, Newalta is
focused on leveraging its proven competencies 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