Crius Energy Trust (TSX: KWH.UN) has announced that the Board of Directors of Crius Energy Administrator has approved a 2 percent increase to distributions representing an increase of $0.0158 per share and a total annualized distribution of $0.8043 per share.
As quoted in the press release:
Accordingly, monthly distributions on Units for the third quarter of 2017 will be paid at a rate of $0.0670 per Unit, representing a 2% increase over the previous annualized distribution rate of $0.7885 per Unit.
“With the recent completion of the U.S. Gas & Electric acquisition and the expected pro-forma 59% increase in Adjusted EBITDA, 60% increase to distributable cash, and 9% reduction in the payout ratio to 53% resulting from the acquisition before accounting for synergies, the Board and Management are confident in delivering another 2% increase to our investors this quarter,” commented Michael Fallquist, CEO of Crius Energy. “The acquisition materially enhances the financial profile of Crius and the Board is committed to delivering increased distributions through the remainder of 2017.”
Today, the Board declared the Trust’s monthly distributions on Units, each in the amount of $0.0670 per Unit, through the third quarter of 2017. Such distributions are payable for each of July 2017, August 2017 and September 2017 to unitholders of the Trust as set forth below.
|
Record Date
|
Period
|
Distribution Payable
Date
|
Distribution
Amount per Unit
|
|
July 31, 2017
|
July
|
August 15, 2017
|
$0.0670
|
|
August 31, 2017
|
August
|
September 15, 2017
|
$0.0670
|
|
September 30, 2017
|
September
|
October 16, 2017
|
$0.0670
|
Click here to read the full press release.
