Precious Metals and Mining Trust (TSX: MMP.UN) announces a change to its monthly cash dividend
June 27 2013 - 8:00AM
Marketwired Canada
The Board of Directors (the "Board") of Sentry Investments Inc. ("Sentry"), the
manager of Precious Metals and Mining Trust (the "Trust") (TSX:MMP.UN),
announces that the Trust's monthly cash distribution will be changed from its
current rate of $0.07 per unit to $0.035 per unit. This change will be effective
beginning with the monthly cash distribution payable on August 15, 2013, to
unitholders of record on July 31, 2013, and will remain at this level until
further guidance is provided by Sentry.
The Board believes that this distribution decrease is prudent and in the best
interests of the Trust and its unitholders given the current environment for
gold mining equities. It is the view of Sentry that gold mining equities
continue to trade at their lowest valuations relative to the gold price in 25
years and, as a result, present an excellent investment opportunity. It is the
opinion of the Board that this distribution decrease should improve unitholders'
potential total return by maintaining capital in the Trust while continuing to
provide a reasonable level of monthly cash payout.
It is the intention of the Board to reevaluate from time to time the Trust's
monthly distribution in the context of portfolio return expectations and to make
further changes to the Trust's monthly distribution amount when it is believed
that such changes represent a net benefit to unitholders.
SENTRY INVESTMENTS INC.
Sentry Investments was founded in 1997 and has grown to become one of Canada's
largest and fastest-growing independent asset management companies. Sentry
manages over $10 billion in assets on behalf of more than 300,000 Canadian
investors. Sentry offers a diverse range of award-winning investment products
available through financial advisors, including domestic, international and
income-oriented mutual funds and separately managed accounts. Sentry is one of
only three firms to receive four consecutive Brendan Wood International TopGun
Asset Management Team Awards (2009 to 2012).
Certain statements included in this news release constitute forward-looking
statements, including, but not limited to, those identified by the expressions
"expect," "intend," "will" and similar expressions to the extent they relate to
Sentry or the Trust. The forward-looking statements are not historical facts but
reflect Sentry's current expectations regarding future results or events
including, but not limited to, the proposed timing and methodology of reviewing
of the Trust's monthly cash distribution rate and the current rationale for the
stated distribution decrease. These forward-looking statements are subject to a
number of risks and uncertainties that could cause actual results or events to
differ materially from current expectations. Although Sentry believes that the
assumptions inherent in the forward-looking statements are reasonable,
forward-looking statements are not guarantees of future performance and,
accordingly, readers are cautioned not to place undue reliance on such
statements. Sentry undertakes no obligation to update publicly or otherwise
revise any forward-looking statement or information whether as a result of new
information, future events or other such factors which affect this information,
except as required by law. For a complete disclosure record of the Trust, please
visit its profile at www.sedar.com.
Sentry Investments Inc.
Commerce Court West
199 Bay Street, Suite 4100
P.O. Box 108
Toronto, ON M5L 1E2
Tel: 416-364-9297
Fax: 416-364-1197
FOR FURTHER INFORMATION PLEASE CONTACT:
Sentry Investments
Investor Relations
(broker/investor inquiries)
1-888-730-4623
416-364-1197 (FAX)
info@sentry.ca
www.sentry.ca
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