CALGARY, ALBERTA--(CCNMatthews - Aug. 16, 2005) - Newalta Income Fund (TSX:NAL.UN) ("Newalta") today announced that it has declared a cash distribution of 15 cents per trust unit for the month of August 2005, payable on September 15, 2005, to all unitholders of record on August 31, 2005. The ex-distribution date is August 29, 2005.
Newalta's DRIP provides eligible unitholders with the opportunity to reinvest their monthly distribution to acquire additional trust units at a purchase price equal to 95% of the average market price. The deadline for completing and delivering enrollment forms to Valiant Trust Company is 3:00 pm (MST) on the business day immediately preceding the record date.
Based on the August 15, 2005 closing price of $23.56 per trust unit, the August distribution represents an annualized cash-on-cash yield of approximately 7.6%.
Newalta Income Fund is an open-ended trust that maximizes the inherent value in certain industrial wastes through recovery of saleable products and recycling, rather than disposal. Through an integrated network of 44 state-of-the-art facilities, Newalta delivers world-class solutions to a broad customer base of national and international corporations, in a range of industries, including the automotive, forestry, pulp and paper, manufacturing, mining, oil and gas, petrochemical, and transportation services industries. With a track record of profitable growth and environmental stewardship, Newalta is focused on leveraging its position in new service sectors and geographic markets from coast to coast.
FOR FURTHER INFORMATION PLEASE CONTACT:
Newalta Income Fund
Ronald L. Sifton
Senior Vice President, Finance & CFO