Flaherty & Crumrine Investment Grade Fixed Income Fund Provides Earnings Guidance for the Year Ending December 31, 2012; Declares Special Year End Distribution, Payable on January 15, 2013
As a result, the Fund announced a special distribution estimated to be $0.08 per unit to unit holders of record at the close of business on December 31, 2012. The distribution consists of (i) a cash distribution in the amount of $0.04 per unit which approximates the income taxes payable (by taxable holders of the Fund) on the special distribution of income based on the highest marginal Ontario tax rate; and (ii) a distribution estimated to be $0.04 per unit that will be automatically reinvested in additional units to be determined based on the net asset value per unit as of December 31, 2012. The estimated amount of $0.04 per unit of automatic reinvestment may change depending on any other transactions occurring before year end. Immediately following issuance, the units of the Fund will be automatically consolidated and as a result, unit holders will hold the same number of units after the distribution as they held before it. The adjusted cost base of a holder's units will be increased by the amount of the distribution reinvested in units as of December 31, 2012. The payment date for the cash distribution will be January 15, 2013.