Top 20 Europe Dividend Trust Declares Initial Quarterly Distribution

TORONTO, March 7, 2013 /CNW/ - The Board of Directors of TTE Ltd. (the "Trustee") in its capacity as Trustee for Top 20 Europe Dividend Trust (the "Trust") has today declared a cash distribution of $0.1817 per Trust Unit. This distribution represents the first quarterly distribution, covering the period from December 20, 2012, the closing date of the Trust's initial public offering, to March 31, 2013.

Record and payment dates are as follows:

Record Date	Payment Date	Distribution Amount/Trust Unit
March 28, 2013	April 15, 2013	$0.1817

Unitholders are entitled to receive quarterly distributions as declared by the Trustee of the Trust.  The Trustee generally intends to declare and pay quarterly distributions based on the dividends and other distributions received on the underlying portfolio and premiums realized by the Trust pursuant to its option writing strategy less the operating expenses. It is expected that the quarterly distributions received by Unitholders will be characterized primarily as returns of capital and capital gains for tax purposes. Amounts distributed on the units that represent returns of capital are generally non-taxable to a Unitholder but reduce the Unitholder's adjusted cost base of the Units for tax purposes.

The Trust is an investment trust whose investment objectives are to provide unitholders with: (i) stable quarterly tax-advantaged distributions; and (ii) the opportunity for capital appreciation through investment exposure, on a tax-advantaged basis, to an equally-weighted portfolio comprised of the 20 highest yielding equity securities included in the Europe Dow.

The units of the Trust are listed for trading on The Toronto Stock Exchange under the symbol TTE.UN.

SOURCE: Top 20 Europe Dividend Trust

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Top 20 Europe Dividend Trust
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