TORONTO, Dec. 29, 2020 (GLOBE NEWSWIRE) -- Bloom U.S. Income & Growth Fund (TSX: BUA.UN) (the Fund) announces distributions in the amount of $0.03 per Class A unit and US$0.03 per Class U unit per month for record dates from January to March 2021. This is a change from the previous level of $0.05 per Class A unit and US$0.05 per Class U per month. The Manager believes that the new distribution level is more appropriate given current market conditions. The new distribution rate is approximately 6.1%(1) based on the current market price of Class A units, which remains an attractive level. With its longer term outlook, the reduction in the distribution rate will allow the Investment Manager, Bloom Investment Counsel, Inc., to take advantage of opportunities within the market.
| Record Date | Payment Date | Distribution per unit | ||||||
| Class A | Class U | |||||||
| January 29, 2021 | February 15, 2021 | $0.03 | US$0.03 | |||||
| February 26, 2021 | March 15, 2021 | $0.03 | US$0.03 | |||||
| March 31, 2021 | April 15, 2021 | $0.03 | US$0.03 | |||||
Since the Fund’s inception in March 2013, the Fund has paid cash distributions of $4.62 per Class A Unit and US$4.62 per Class U Unit.
Class A unitholders are reminded that the Fund has a Dividend Reinvestment Plan (DRIP) providing Class A unitholders with the ability to automatically reinvest their distributions and benefit from the compound growth from this reinvestment. Please contact your Investment Advisor or financial institution to enroll in this DRIP.
For further information please contact Unitholder Information at 416-861-9941 or 1-855-BLOOM18 (1-855-256-6618) or visit www.bloomfunds.ca
Commissions, management fees and other expenses may all be associated with investment funds. Please read the Fund’s publicly filed documents which are available from SEDAR at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
(1) Based on December 24, 2020 closing price.