Newalta Income Fund Announces Cash Distribution
CALGARY, ALBERTA--Newalta Income Fund ("Newalta") today announced
the cash distribution of $0.09 per trust unit. This distribution
will be payable on May 15, 2003 to all unitholders of record on
April 30, 2003. The ex-distribution date is April 30, 2003.
Based on the April 28, 2003 closing price of $8.68 per trust
unit, the April distribution represents an annualized
cash-on-cash yield of approximately 12.4%.
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