Faircourt Asset Management Inc. Announces Adjustment in Distribution for the Trust Units of Faircourt Split Trust
Toronto, July 19, 2022 (GLOBE NEWSWIRE) -- Faircourt Asset Management Inc., as Manager of Faircourt Split Trust (NEO: FCS.UN) (the “Fund”) announces that the monthly distribution on the Trust Units will be adjusted from $0.06 per month per Trust Unit ($0.72 per annum per Trust Unit) to $0.015 per month per Trust Unit ($0.18 per annum per Trust Unit). The new monthly distribution will represent a current yield of approximately 4.9% based on the current net asset value per unit of the Fund.
The Fund’s distribution is funded primarily by option writing and capital gains. The Manager believes that managing the distribution level represents an opportunity to assist in preserving and growing the NAV of the Fund.
Faircourt Funds | Trading Symbol | Distribution Amount (per share) | Ex-Dividend Date | Record Date | Payable Date | |
Faircourt Split Trust | FCS.UN | $0.015 | July 28, 2022 | July 29, 2022 | August 15, 2022 | |
Faircourt Asset Management Inc. is the Investment Advisor for Faircourt Split Trust.
This press release is not for distribution in the United States or over United States wire services.
For further information on the Faircourt Funds, please visit www.faircourtassetmgt.com
or please contact 1-800-831-0304.
