Superior Plus Announces a 4% Increase in Cash Distribution and Suspension of the Distribution Reinvestment Program

About this update from Superior Plus Corp

[{"type":"text","content":"\n\n\n\nTSX: SPF.UN\n\n\nCALGARY, Feb. 28 /CNW/ -\n\n\nMarch 2008 Cash Distribution - $0.135 per Trust Unit\n\n\n----------------------------------------------------\n\n\nSuperior Plus Income Fund (the "Fund") today announced a 4% increase of\n$0.005 per trust unit in its cash distribution for the month of March 2008 of\n$0.135 per trust unit payable on April 15, 2008. The record date is March 31,\n2008 and the ex-distribution date will be March 27, 2008. The Fund's\nannualized cash distribution rate is expected to be $1.62 per trust unit.\n\n\nFor tax purposes, the distributions are expected to substantially be\ntaxable as "other income" to Unitholders. A summary of cash distributions\nsince inception and tax information is posted under the Investor Information\nsection of the Fund's website at: www.superiorplus.com.\n\n\nDRIP\n\n\n----\n\n\nThe Fund also announces that it is suspending its Distribution\nReinvestment Plan ("DRIP"). Superior achieved strong performance from all of\nits businesses in 2007 resulting in surplus cashflow, declining debt levels\nand a lower than targeted payout ratio. The Fund continues to have a positive\noutlook and considers this program to be dilutive at this time. The DRIP will\nbe available for the Fund's February monthly distribution payable on March 14,\n2008, but will not be available for future monthly distributions of the Fund\nuntil further notice. Accordingly, the DRIP will not be available commencing\nwith the Fund's March 2008 distribution payable on April 15, 2008. Unitholders\nof the Fund who are participants under the DRIP should refer to the Fund's\nwebsite (www.superiorplus.com) for further information regarding the\nsuspension of the DRIP.\n\n\nAbout Superior Plus and the Fund\n\n\n--------------------------------\n\n\nSuperior Plus Income Fund is a diversified business trust. The Fund holds\n100% of Superior Plus LP, a limited partnership formed between Superior Plus\nInc., as general partner and the Fund as limited partner. Superior Plus is\nfocused on stability of distributions with value growth and has four Canadian\nbased operating divisions: Superior Propane is Canada's largest distributor of\npropane, related products and services; ERCO Worldwide is a leading supplier\nof chemicals and technology to the pulp and paper industries and a regional...

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