Benvest New Look Income Fund announces the monthly distribution for January 2009January 20, 2009
Montreal, Québec, January 20th, 2009: Benvest New Look Income Fund (TSX: BCI.UN) (the Fund ) today announced that a cash distribution of $0.0542 per unit has been declared for the period of January 1st through January 31st, 2009. The distribution will be paid on February 20th, 2009 to unitholders of record at the close of business on January 31st, 2009. The distribution of $0.0542 per unit includes for tax purposes a portion of $0.0191 as eligible dividend, the difference being other income.
The Fund's operating subsidiary, New Look Eyewear Inc., has also declared a dividend for January 2009 on its exchangeable shares of $0.0425 per exchangeable share, payable on February 20th, 2009 to the holders of exchangeable shares of record as at the close of business on January 31st, 2009. In accordance with requirements of Canada Revenue Agency, the corporation notifies its shareholders that the dividend on exchangeable shares is an eligible dividend for tax purposes, i.e. a dividend entitling shareholders who are Canadian resident individuals to a higher dividend tax credit. The exchangeable shares, which are not freely tradable, have been exchangeable on a one-for-one basis into units of the Fund since May 1st, 2006.
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