Dec. 20, 2010 (Canada NewsWire Group) --
MONTREAL, Dec. 20 /CNW Telbec/ - GENIVAR Income Fund (TSX: GNV.UN) announced today that its monthly cash distribution of $0.125 per Fund unit covering the period from December 1 to December 31, 2010, will be paid on January 17, 2011 to unitholders of record at the close of business on December 31, 2010.
Furthermore, the Fund is pleased to declare a one-time special cash distribution of $0.55 per Fund unit that will be paid on January 17, 2011 to unitholders of record at the close of business on December 31, 2010. This special distribution ensures that the Fund will not be liable to pay income taxes for the taxation year ending on December 31, 2010. This special distribution is necessary primarily as a result of the successful performance of the Fund in 2010, bringing total distributions to $2.05 for the year ending on December 31, 2010 in comparison to $1.95 for the year ending on December 31, 2009.
GENIVAR is a leading Canadian engineering services firm providing
private and public-sector clients with a comprehensive range of
professional consulting services throughout all project phases,
including planning, design, construction and maintenance. Ranging in
size and scope, GENIVAR's clients primarily operate in the building,
industrial and energy, municipal infrastructure, transportation and
environmental sectors. GENIVAR is one of Canada's largest engineering
services firms based on number of employees, with more than 4,500
managers, professionals, technicians and technologists and support
staff in more than 85 locations in Canada and internationally.
www.genivar.com
Alexandre L'Heureux
Chief of Financial Operations
GENIVAR Income Fund
Tel.: 514-340-0046, ext. 5310