Crius Announces 2% Distribution Increase and Confirms First Quarter 2017 Distributions
Wednesday, January 11, 2017
Crius Announces 2% Distribution Increase and Confirms First Quarter 2017 Distributions
17:03 EST Wednesday, January 11, 2017
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/
TORONTO, Jan. 11, 2017 /CNW/ - Crius Energy Trust (the "Trust") (TSX: KWH.UN) announced today that the Board of Directors of Crius Energy Administrator Inc., the administrator of the Trust (the "Board") has approved a 2% increase to distributions paid on units of the Trust ("Units"), representing an annualized increase of $0.0152 per Unit and a total annualized distribution of $0.7730 per Unit. Accordingly, distributions on Units for the months of January 2017, February 2017 and March 2017 will be paid at a rate of $0.0644 per Unit, representing a 2% increase over the previous annualized distribution rate of $0.7578 per Unit.
"Based on the positive results we continue to see from our growth strategy in our deregulated energy and solar businesses, Management and the Board are very pleased to begin 2017 with another 2% distribution increase for our investors," commented Michael Fallquist, CEO of Crius Energy. "The company continues to maintain a very conservative payout ratio and the Board is confident that it will be able to continue increasing distributions throughout 2017, with plans to evaluate further distribution increases beyond the end of the year."
Today, the Board declared the Trust's monthly distributions on Units, each in the amount of $0.0644 per Unit, through the first quarter of 2017. Such distributions are payable for each of January 2017, February 2017 and March 2017 to unitholders of the Trust as set forth below.
| Record Date | Period | Ex-Distribution
Date | Distribution Payable
Date | Distribution Amount per
Unit |
| January 31, 2017 | January | January 27, 2017 | February 15, 2017 | $0.0644 |
| February 28, 2017 | February | February 24, 2017 | March 15, 2017 | $0.0644 |
| March 31, 2017 | March | March 29, 2017 | April 17, 2017 | $0.0644 |