Profile
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Canadian Resources Income Trust was
created to provide investors with a high current yield and low cost
diversification through the investment in a fixed portfolio of high yielding Canadian equity securities focused on the natural resource
industry.
Summary Statistics as at September 09, 2010
| Units |
| Net Asset Value (NAV) per Unit |
$12.72 |
| Units Outstanding |
2,372,102 |
| Market Capitalization |
$29,532,670 |
| MER |
1.52% |
| IPO Date |
11/28/1996 |
| Redemption Date |
03/31/2015 |
| Ticker Symbol |
RTU.UN |
| Issue Price |
$10.00 |
| Market Price (TSX) |
$12.45 |
| Trailing 12-Month Distribution |
$0.8390 |
Net Asset Value
| Date |
Basic NAV per Unit ($) |
Diluted NAV per Unit ($) |
|
08/19/10
|
12.54
|
12.27
|
|
08/12/10
|
12.59
|
12.30
|
|
08/05/10
|
12.86
|
12.43
|
|
07/29/10
|
12.83
|
12.83
|
|
07/22/10
|
12.83
|
12.83
|
|
07/15/10
|
12.66
|
12.66
|
|
07/08/10
|
12.61
|
12.61
|
Distribution
Policy
Distributions are declared and paid monthly to the extent of forecasted distributions received by the Trust plus interest income less estimated administration and operating expenses. For historical distribution
amounts, please see distribution
information.
Retraction Rights
The following provides a summary of the retraction rights available to
shareholders. Please refer to the prospectus for complete details.
Unlike most mutual funds the Units are listed allowing holders to exit
by selling their Units. In addition, they are also retractable at any
time. Because of the manner in which the retraction prices are
calculated, investors are almost always better off selling their Units
on the market rather than retracting them. It should be noted that all
the retractions listed below constitute a taxable disposition of the
Units at the time of the retraction.
Regular Retraction
Units may be surrendered for retraction at any time for payment on the
last day of each month or the preceding business day. Unitholders are
entitled to receive 95% of the net realized proceeds less $0.25.
Special Annual Retraction
The special annual retraction date occurs on November 30th of each year.
On that date unitholders are entitled to receive 100% of the net
realized proceeds per Unit retracted.
Redemption
The Trust is scheduled to wind up on March 31, 2015, and at that time,
the Trust will distribute to unitholders their pro rata portion of each
of the portfolio securities and any remaining assets of the Trust.
Unitholders may elect to receive a cash payment in which case their pro
rata portion of the portfolio securities will be sold following the
termination of the Trust and the net proceeds realized from such sale
will be distributed to them.
Taxation
Distributions received by the Trust from the portfolio securities will
be distributed to the Unitholders monthly. Distributions received from
issuers in the portfolio securities have various tax treatments: some
are taxed as dividends, some as interest income and others as a return
of capital. Amounts received as a return of capital are not taxable but
must be used to reduce the adjusted cost base of an investor’s
Units. Dividends received by an individual are generally subject to the
normal gross-up and dividend tax-credit rules applicable to dividends
received on securities of a taxable Canadian Corporation.
The tax treatment and classification of revenue of distributions
received are reported by the underlying issuers in the portfolio
securities either at the time of declaration or on an annual basis.
A Unitholder will generally be required to include in the calculation of
income the net income and the net realized taxable capital gains of the
Trust paid or payable to the Unitholder in the year. If the
distributions by the Trust to a Unitholder in any year exceed the net
income and net realized capital gains of the Trust for the year paid or
payable to the Unitholder, such distributions will not be taxable but
will reduce the adjusted cost base of the Unitholder’s Units. For
a historical breakdown of distribution amounts, please see distribution
information.
Directors and Officers
The following are the names, office(s)
held and principal occupations of the directors and officers of the
Trustee:
| Name |
Office(s)
Held |
Principal
Occupation |
| Brian D. McChesney |
President, Chief Executive
Officer and Director |
Managing Director, Scotia
Capital Inc. |
| Stephen D. Pearce |
Chief Financial Officer,
Secretary and Director |
Director,
Scotia Capital Inc. |
| Stephens B. Lowden |
Director & Chairman of
the Audit Committtee |
President, SBL Capital
Corporation |
| John B. Newman |
Director & Chairman of
the Board |
Chairman,
Multibanc Financial Holdings Limited |
| Robert C. Williams |
Director |
Chief Executive Officer,
Headwater Investments Ltd. |
| J. Nicholas Ross |
Director & Chairman of the
IRC |
Chairman & CEO,
Rover Capital Corp. |
|
Michael K. Warman
|
Director
|
Corporate Director
|
|