Skylon Growth & Income Trust Announces Special Distribution
June 25 2019 - 4:30PM
PR Newswire (Canada)
TSX Symbol: SKG.UN
TORONTO, June 25, 2019 /CNW/ - CI Investments Inc.
("CI") announces that Skylon Growth & Income Trust (the "Fund")
(TSX: SKG.UN) will pay a special distribution on its units in the
amount of $0.14512 per unit. The
special distribution will be paid to unitholders of record on
June 28, 2019. This distribution will
not be paid in cash, but will be reinvested and the resulting units
immediately consolidated so that the number of units held by each
investor will not change.
The special distribution arises as a result of the liquidation
of the Fund's portfolio in anticipation of the originally scheduled
termination date of the Fund on June 30,
2019. Unitholders subsequently approved delaying the
termination of the Fund in anticipation of a merger with an
exchange traded fund, all as described in the Fund's management
information circular dated April 18, 2019.
The special distribution will generally consist of capital
gains. Investors holding their units outside registered plans will
have taxable amounts to report and an increase in the adjusted cost
base of their investment.
SOURCE CI Financial Corp.
Copyright 2019 Canada NewsWire
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