Carfinco Declares a Combined 12 cent Cash Distribution for September
TSX: CFN.UN
EDMONTON, Sept. 7 /CNW/ - Carfinco Income Fund ("Carfinco" or the "Fund") announces that it will make a regular cash distribution for the month of September and provide an additional special cash distribution to its Unitholders in September, reflecting continued strong performance of the Fund in the third quarter of 2010.
A regular cash distribution of 2 cents per trust unit and a special cash distribution of 10 cents per trust unit have been declared for September 2010, with a payable date of September 30, 2010, to Unitholders of record on September 20, 2010. The ex-distribution date is September 16, 2010.
"By distributing 12 cents cash in September the total distribution to Unitholders is 41.5 cents cash year-to-date, an average of 4.6 cents per month," stated Tracy Graf, CEO of the Fund. "We continue to see positive results in both monthly loan originations and delinquencies, and remain on target for the Fund to achieve the 2010 financial goals set by management."
About Carfinco Income Fund
Carfinco focuses on providing consumer vehicle loans to borrowers unable to obtain financing through traditional lending sources. A network of select independent and franchise dealerships offer Carfinco's payment plan to their customers who must, along with the vehicle, meet Carfinco's underwriting guidelines. The units of the Fund trade on The Toronto Stock Exchange under the symbol "CFN.UN".
Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Fund. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements.
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For further information: Mr. Tracy A. Graf, CEO & Trustee of Carfinco Income Fund, Telephone: 1-888-486-4356, Facsimile: 1-888-486-7456, E-mail: [email protected]; OR, The Howard Group Inc., Jeff Walker, Dave Burwell, Investor Relations, Telephone: 1-888-221-0915, Telephone: 403-221-0915, E-mail: [email protected], Website: www.howardgroupinc.com
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