Company Details

Directors and Officers

The following are the names, office(s) held and principal occupations of the directors and officers of the Company:

Brian D. McChesney
President, Chief Executive Officer and Director
(Corporate Director)

Stephen D. Pearce
Chief Financial Officer, Secretary and Director
(Director, Scotia Capital Inc.)

Robert Hall
Director
(Managing Director, Scotia Capital Inc.)

Stephens B. Lowden
Director & Chairman of the Audit Committtee
(Corporate Director)

John B. Newman
Director & Chairman of the Board
(Chairman, Multibanc Financial Holdings Limited)

Robert C. Williams
Director
(Chairman, Morrison Park Advisors)

J. Nicholas Ross
Director & Chairman of the IRC
(Chairman & CEO, Rover Capital Corp.)

Michael K. Warman
Director
(Corporate Director)


Profile

Canadian Resources Income Trust is an investment trust which provides investors with investment exposure to an equally-weighted portfolio comprised of the 20 highest yielding natural resource issuers in the S&P/TSX 60 Index. The S&P/TSX 60 Index consists of the 60 largest and most liquid issuers on the TSX and is generally maintained to have sector weights in line with the S&P/TSX Composite Index.

Summary Statistics as at 04/27/2017

HideUnits
Net Asset Value (NAV) per Unit $9.90
Units Outstanding 1,205,670
Market Capitalization $11,719,112
Expense Ratio 2.43%
IPO Date 11/28/1996
Redemption Date 03/31/2020
Ticker Symbol RTU.UN
Issue Price $10.00
Market Price (TSX) $9.72
Trailing 12-Month Distribution $0.7080

General Information

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, 2020, 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.