Mar. 23, 2011 (Canada NewsWire Group) --
TSX Venture Symbol: CFL.UN
CALGARY, March 23 /CNW/ - The board of directors of the general partner for Canadian Equipment Rental Fund Limited Partnership (the "Partnership" or "CERF LP") announces that they have approved a cash distribution to the Partnership unitholders of $0.06 per unit for the first quarter of 2011. If continued, this will represent $0.24 per unit on an annualized basis. Payment will be made on or about April 15, 2011, to unitholders of record as of the close of business on March 31, 2011.
Investors are cautioned that future distributions are always subject to approval from the board of directors of the general partner and may be increased, decreased or suspended by the board at any time.
Distributions in 2011 will be a flow through of eligible dividends received from wholly owned subsidiaries and therefore will be taxed as dividends from Canadian public companies eligible for the enhanced dividend tax credit.
Each partner who was a unitholder of record at any of the distribution dates, during a given year, will receive, by mail in March of the following year, a form T5013 from the Partnership's Transfer Agent or the unitholder's brokerage firm. The T5013 indicates the amount and nature of the taxable income the unitholder is responsible to report.
CERF LP is a Canadian limited partnership engaged in the rental, sale and service of industrial and construction equipment. CERFLP trades on the TSX Venture Exchange under the symbol "CFL.UN" and currently has 8,640,906 units issued and outstanding.
FORWARD LOOKING STATEMENTS
This press release contains forward looking statements subject to various risk factors and uncertainties, which may cause the actual results, performances, cash flows or the ability to pay distributions to be materially different from the results, performances, cash flows or the ability to pay distributions expressed or implied by such forward looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.