TSX: SPF.UN
CALGARY, May 8 /CNW/ -
May 2007 Cash Distribution - $0.13 per Trust Unit
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Superior Plus Income Fund (the "Fund") today announced its cash distribution for the month of May 2007 of $0.13 per trust unit payable on June 15, 2007. The record date is May 31, 2007 and the ex-distribution date will be May 29, 2007. The Fund's current annualized cash distribution rate is $1.56 per trust unit.
For income tax purposes, the income from the May, 2007 cash distribution of $0.13 per trust unit is considered to be other income. A summary of cash distributions since inception and tax information is posted under the Investor Information section of Superior's website at www.superiorplus.com.
DRIP
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The Fund has a Distribution Reinvestment Plan ("DRIP") available to its Unitholders. The DRIP allows participants to have their monthly cash distributions reinvested in additional units of Superior Plus Income Fund at an effective discount of 5% to the Fund's market price. The DRIP program offers Unitholders the opportunity to steadily increase their ownership in Superior Plus without commissions or brokerage fees. Further information on the DRIP is posted on the Fund's website. Unitholders whose units are registered in the name of an investment banker, stockbroker, bank, trust company or other nominee should contact such nominee if they wish to enrol in the plan.
Annual General Meeting of Unitholders
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The Fund's Annual Meeting will be held in the Strand/Tivoli Room of the Metropolitan Centre, 333 - 4 Avenue SW, Calgary, Alberta at 2:00 pm (MST) on Tuesday, May 8, 2007. A live audio webcast of the meeting including a corporate presentation can be accessed from Superior Plus' website: www.superiorplus.com.
2007 First Quarter Results Conference Call
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The fund expects to release its 2007 first quarter results on May 8, 2007. A conference call and webcast for investors, analysts, brokers and media representatives to discuss the 2007 first quarter results is scheduled for 9:30 a.m. EST (7:30 a.m. MST) on Wednesday, May 9, 2007. To participate in the call, dial: 1-800-733-7571. A recording of the call will be available for replay until midnight, June 9, 2007. To access the recording, dial: 1-877-289-8525 and enter the pass code: 21226852 followed by the number key. Internet users can listen to the call live, or as an archived call, on Superior's website at www.superiorplus.com under the Events and Presentations section.
About Superior Plus and the Fund
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Superior Plus Income Fund is a diversified business trust. The Fund holds 100% of Superior Plus LP, a limited partnership formed between Superior Plus Inc., as general partner and the Fund as limited partner. Superior Plus is focused on stability of distributions with value growth and has four Canadian based operating divisions: Superior Propane is Canada's largest distributor of propane, related products and services; ERCO Worldwide is a leading supplier of chemicals and technology to the pulp and paper industries, a regional Midwest supplier of chloralkali products and the third largest producer of potassium products in North America; Winroc is the seventh largest distributor of walls and ceilings construction products in North America; and Superior Energy Management provides fixed price natural gas supply services in Ontario and Quebec.
The Fund's trust units and convertible debentures trade on the Toronto Stock Exchange as follows
Trading Symbol Security Issued and Outstanding ------------------------------------------------------------------------- SPF.un Trust Units 86.0 million SPF.db 8% Debentures, Series 1 $8.1 million principal amount SPF.db.a 8% Debentures, Series 2 $59.0 million principal amount SPF.db.b 5.75% Debentures, Series 1 $174.9 million principal amount SPF.db.c 5.85% Debentures, Series 1 $75.0 million principal amount -------------------------------------------------------------------------