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Sterling Shoes declares monthly cash distribution
21 Oct '05
2 min read
Vancouver-based Sterling Shoes Income Fund announced a cash distribution of $0.08958 per trust unit of Sterling Shoes. The distribution is payable on November 15, 2005 to unitholders of record on October 31, 2005.
Sterling Shoes' policy is to pay cash distributions on the 15th of each month to unitholders of record on the last business day of the preceding month. Unitholders who are non-residents of Canada will be required to pay all withholding taxes payable on any distributions by Sterling Shoes.
Distributions on the subordinated limited partner units of the Partnership are intended to be paid quarterly on a subordinated basis assuming certain financial tests are met.
Canadian independent footwear retailer Sterling Shoes is offering footwear, handbags and accessories. It also provides a broad selection of private label and brand name shoes and accessories across five Canadian provinces through its four separate retail banners: Sterling, Joneve, Shoe Warehouse and Freedman's.
Since 1987, Sterling Shoes has grown from five shopping mall locations to 103 stores located primarily in western Canada in high-traffic, high-visibility locations within enclosed shopping malls, on high streets and in strip malls. Sterling Shoes currently employs over 700 employees, and its sales for the 12 month period ended April 30, 2005 were $73.3 million.
Sterling Shoes' policy is to pay cash distributions on the 15th of each month to unitholders of record on the last business day of the preceding month. Unitholders who are non-residents of Canada will be required to pay all withholding taxes payable on any distributions by Sterling Shoes.
Distributions on the subordinated limited partner units of the Partnership are intended to be paid quarterly on a subordinated basis assuming certain financial tests are met.
Canadian independent footwear retailer Sterling Shoes is offering footwear, handbags and accessories. It also provides a broad selection of private label and brand name shoes and accessories across five Canadian provinces through its four separate retail banners: Sterling, Joneve, Shoe Warehouse and Freedman's.
Since 1987, Sterling Shoes has grown from five shopping mall locations to 103 stores located primarily in western Canada in high-traffic, high-visibility locations within enclosed shopping malls, on high streets and in strip malls. Sterling Shoes currently employs over 700 employees, and its sales for the 12 month period ended April 30, 2005 were $73.3 million.
Sterling Shoes Income Fund
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