CALGARY, ALBERTA--(Marketwire - Nov. 19, 2007) - Black Diamond Income Fund (TSX:BDI.UN) (the "Fund") is pleased to announce that the Board of Directors of Black Diamond Group Inc., the manager of the Fund, has approved an 8% increase in its monthly distributions to unitholders from $0.0833 per trust unit to $0.09 per trust unit. This increase will apply to the distributions in respect of November 2007 operations, which is scheduled to be paid on December 15, 2007 to unitholders of record on November 30, 2007. The ex-distribution date is November 28, 2007.
The increase in cash distributions reflects the Fund's strong operating performance and sound financial position. The $0.09 per unit monthly distributions, based on current outstanding trust units, should result in a payout ratio of 47% of funds flow from operations for 2007. This conservative and prudent distribution practice allows the Fund to use the balance of its cash flow to fully fund its 2007 capital budget and retain a sizeable surplus that can be deployed on a discretionary basis to further enhance unitholder value.
About Black Diamond Income Fund
The Fund is an unincorporated open ended investment trust governed by the laws of the Province of Alberta. The principal undertaking of the Fund, through its indirect wholly-owned subsidiary, Black Diamond Limited Partnership, is to rent modular structures for use as workforce accommodation and temporary workspace, and to provide complementary services including transportation, installation, dismantling, repair and maintenance of modular structures, as well as related services through three operating divisions consisting of Black Diamond Camps, BOXX Modular and Black Diamond Site Services.
Reader Advisory
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