Income Financial: Further 1.4% Increase to Monthly Distribution

TORONTO, ONTARIO--(Marketwired - Jan. 20, 2014) - On November 18, 2013, Income Financial announced a change to the distribution policy that resulted in an immediate increase of 23% to the monthly dividend. Income Financial is pleased to announce a further 1.4% increase to the monthly distribution from its previous month's distribution, due to the increased market price of Income Financial. The dividend for January will be $0.09092 per unit.

Under the new distribution policy, the monthly distribution will be determined by applying a 10% annualized rate on the volume weighted average market price (VWAP) of Income Financial's units over the last 3 trading days of the preceding month. As a result, holders of record on January 31, 2014 will receive a distribution of $0.09092 per unit based on the VWAP of $10.91 over the last 3 trading days of December 2013, payable on February 10, 2014. Effectively the amount of the new distribution policy will vary with the market price, but the current yield will remain stable at 10% (based on the VWAP) under this distribution policy.

Income Financial unitholders have received a total of $26.15 per unit in distributions since inception, inclusive of this distribution.

Income Financial invests in a portfolio of North American financial services companies including some of the strongest Canadian & U.S. banks, life insurance and investment firms.