Toronto, March 22, 2000: 60Plus Income Trust (the "Trust") has declared a regular quarterly income distribution of C$0.50 per Unit payable March 31, 2000 to unitholders of record on such date. In addition, the Trust has declared a special distribution of $0.75 per Unit payable March 31, 2000 to unitholders of record on such date for a total distribution to unitholders of $1.25 per Unit.
Unitholders of 60Plus Income Trust may elect to have their distributions re-invested into additional Units by enrolling in the Trust's Distribution Reinvestment Plan. Unitholders should contact their broker or the Plan Agent (Montreal Trust Company of Canada) to enroll in the plan.
60Plus Income Trust's 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 principally of common shares issued by corporations selected from the S&P/TSE 60 Index. The Trust may also, from time to time, invest up to 20% of the cost amount of its assets in (i) common shares issued by the top 60 corporations selected on the basis of market capitalization from the S&P 100 Index or (ii) American Depository Receipts ("ADRs") of the top 60 corporations selected on the basis of market capitalization whose ADRs are trading on the New York Stock Exchange or NASDAQ.
To generate additional returns above the dividend income earned on the portfolio, the Trust will from time to time, write covered call options in respect of all or part of the common shares 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 Trust's investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc. Trust Units are listed on The Toronto Stock Exchange under the symbol SIX.un.