EnerVest Diversified Income Trust Announces February 2009 Distribution
CALGARY, ALBERTA--(Marketwire - Feb. 17, 2009) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.
EnerVest Diversified Management Inc., the Manager of EnerVest Diversified Income Trust (TSX:EIT.UN) ("EnerVest"), today announced the February distribution of $0.05 per unit. The record date for this distribution is February 27, 2009 and the payment date will be March 13, 2009.
On February 9, 2009 EnerVest announced its Value Enhancement Plan, a series of important initiatives intended to increase long-term, sustainable value for EnerVest unitholders. An important element of the Plan was an adjustment to distributions.
"We've right-sized the distribution from $0.07 per month to $0.05 per month in order to align it with portfolio income and returns, given recent market conditions. The additional $0.02 will be reinvested in the Fund, helping to preserve EnerVest's liquidity and flexibility for the longer-term benefit of all our unitholders" said Jacob Roorda, President and CEO.
For additional details on the EnerVest Value Enhancement Plan and the related March 26, 2009 Special Meeting of Unitholders, please visit at www.enervest.com.
EnerVest Diversified Income Trust is Canada's largest and most liquid closed-end investment fund. Listed on the Toronto Stock Exchange under the symbol EIT.UN, the Fund is an actively managed diversified portfolio of income securities.
Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect EnerVest Management Ltd.'s and its affiliates (the "Administrator") current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Administrator believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Administrator undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.