Sterling Shoes BOD announces monthly cash distribution
25 Jun '07
1 min read
Sterling Shoes Income Fund, a Vancouver-based, national specialty footwear retailer announced that its Board of Trustees has approved a cash distribution of $0.12 per trust unit for the period from June 1, 2007 to June 30, 2007, payable on July 16, 2007 to unitholders of record at the close of business on June 30, 2007.
Through a series of increases, the Fund has increased its monthly payout more than 34% since the Fund's initial public offering in July 2005. Furthermore, the Fund made special cash distributions of $0.47 per unit for 2006. These special cash distributions were paid in tranches on January 15, 2007 and March 30, 2007. These special cash distributions are not indicative of future performance.
Sterling Shoes Income Fund is a leading Vancouver-based footwear retailer offering a broad selection of private label and brand name shoes and accessories in five Canadian provinces through its five separate retail banners: Sterling, Joneve, Shoe Warehouse, Freedman's and Gia. Since 1987, Sterling Shoes has grown from five shopping mall locations to 133 stores (as at June 19, 2007) located in high-traffic, high-visibility locations within enclosed shopping malls, on high streets and in strip malls.