Declares Quarterly Income Distribution
Toronto, June 19, 2001: First Premium U.S. Income Trust has declared a quarterly cash distribution of C$0.50 per Unit payable June 29, 2001 to holders of record on such date.
First Premium U.S. Income Trusts investment objectives are to provide Unitholders with a stable stream of quarterly distributions of at least $0.50 per Unit. The Trust intends to achieve its investment objectives by investing in a diversified portfolio consisting primarily of common shares issued by corporations that rank in the top 50 of the Standard & Poors 100 Index.
In order to generate returns above the
dividend income generated by the portfolio, the Trust will write covered
call options in respect of all or part of the securities in the portfolio.
In addition, the Trust may write cash covered put options in respect of
securities in which the Trust is permitted to invest.
The Trusts investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc.. Trust Units are listed on The Toronto Stock Exchange under the symbol FPU.UN.