(TSXV: GH.UN)
RED DEER, AB, Feb. 16 /CNW/ - Trustees of Gamehost Income Fund have unanimously approved a 33% increase in the regular monthly cash distributions to unitholders effective February 2007. The decision moves the regular monthly cash distribution from $0.15 per unit to $0.20 per unit. The February 2007 distribution of $0.20 per unit will be paid on March 15, 2007 to unitholders of record on February 28, 2007. The ex-distribution date is February 26, 2007.
Mr. Darcy Will reports "Continued steady growth in cash flow has resulted in a substantial build rate in surplus cash to January 2007. Growth prospects remain positive for the Fund into the foreseeable future and projections for future cash flows confirm the Fund's ability to sustain a higher distribution.
An increase of this magnitude is not a departure from the Fund's historical practice of conservative monthly payout ratios combined with a special distribution declared at year end. We believe our unitholders appreciate our conservative approach to distributing cash which provides the Fund with greater flexibility to act on additional growth opportunities should they arise. That said, we also believe, our unitholders deserve to share regularly in the ongoing success of the Fund. Accordingly, we are extremely pleased to make this announcement early in the year."
Financial results for the year ended December 31, 2006 will be released at the close of trading February 20, 2007.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.