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Precision Drilling Trust announces January 2006 Cash Distribution and United States Federal Income Tax Information for 2005
Precision Drilling Trust announces January 2006 Cash Distribution and United States Federal Income Tax Information for 2005.
About this update from Precision Drilling Corporation
[{"type":"text","content":"\n\n\n\n\nCALGARY, Jan. 20 /CNW/ - Precision Drilling Trust (\"Precision\") announces\ntoday that the cash distribution for the month of January 2006 will be\nCdn$ 0.27 per trust unit of Precision. The distribution will be payable on\nFebruary 15, 2006 to unitholders of record on January 31, 2006. The ex-\ndistribution date is January 27, 2006. A payment of Cdn$ 0.27 per unit will\nalso be made to holders of Class B limited partnership units of Precision\nDrilling Limited Partnership using the same record date and payment date.\n\nUnited States Federal Income Tax Information for 2005\n\nBased on advice from Precision's United States tax advisors, the issued\nand outstanding trust units of Precision will be classified as equity rather\nthan as debt for United States federal income tax purposes. Precision believes\nthat the cash distributions paid in 2005, out of its current and accumulated\nearnings and profits, to individual United States unitholders, should be\ntreated as qualified dividend income for United States federal income tax\npurposes eligible for the reduced maximum rate of tax to individuals of\ngenerally 15%. More detailed information regarding the 2005 distribution will\nbe reported at a later date on Precision's website at\nwww.precisiondrilling.com.\n\nUnited States unitholders are advised to consult their own tax advisers\nas to the specific United States federal and state income tax consequences of\nhaving received a cash distribution in 2005 from Precision.\n\nPrecision Drilling Trust is Canada's largest energy services trust.\nHeadquartered in Calgary, Alberta, Precision is the leading provider of\ncontract drilling services to the Canadian oil and gas industry. Precision\nprovides customers with access to an extensive fleet of drilling and service\nrigs backed by a comprehensive mix of support services utilizing skilled and\nexperienced personnel.\nPrecision is listed on the Toronto Stock Exchange under the trading\nsymbol \"PD.UN\" and in U.S. dollars \"PD.U\" and on the New York Stock Exchange\nunder the trading symbol \"PDS\".\n%SEDAR: 00022925E\n\n\n","length":2137,"tagName":"div"}]