Retail Supplier Holding Co. Announces Further Distribution Increase
Crius Energy Trust (the "Trust") announced that the Board of Directors of Crius Energy Administrator Inc., the administrator of the Trust (the "Board") has approved a 2% increase to distributions paid on units of the Trust ("Units"), representing an annualized increase of $0.0158 per Unit and a total annualized distribution of $0.8043 per Unit. (all $ Canadian)
Accordingly, monthly distributions on Units for the third quarter of 2017 will be paid at a rate of $0.0670 per Unit, representing a 2% increase over the previous annualized distribution rate of $0.7885 per Unit.
"With the recent completion of the U.S. Gas & Electric acquisition and the expected pro-forma 59% increase in Adjusted EBITDA, 60% increase to distributable cash, and 9% reduction in the payout ratio to 53% resulting from the acquisition before accounting for synergies, the Board and Management are confident in delivering another 2% increase to our investors this quarter," commented Michael Fallquist, CEO of Crius Energy. "The acquisition materially enhances the financial profile of Crius and the Board is committed to delivering increased distributions through the remainder of 2017."