Top 20 U.S. Dividend Trust - Update Regarding Special Meeting

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Top 20 U.S. Dividend Trust - Update Regarding Special Meeting

Canada NewsWire

TORONTO, Sept. 5, 2017 /CNW/ - Top 20 U.S. Dividend Trust (the "Fund") today provided an update regarding the special meeting of its unitholders (the "Meeting") to be held on October 5, 2017 to consider a proposal to, among other things, extend the term of the Fund for an additional five years from its originally scheduled termination date of October 31, 2017 (the "Extension Proposal").

As described in the Fund's August 15, 2017 press release, unitholders who do not wish to continue their investment in the Fund following October 31, 2017 will be permitted to redeem their units as of that date for proceeds equal to net asset value per unit, which is consistent with the original terms of the Fund. Unitholders who wish to redeem their units must deliver Redemption notices to the Fund by October 16, 2017, but should contact their broker or other intermediary through which their units are held, as brokers and other intermediaries may set earlier deadlines for the receipt of exercise notices.

If the Extension Proposal is approved, commencing in 2018 unitholders will be permitted to redeem their units for proceeds equal to net asset value as of the second last business day in December of each year.

Unitholders of record as of September 1, 2017 will be entitled to receive notice of and vote at the Meeting. Details of the Extension Proposal are outlined in the Fund's September 1, 2017 information circular prepared in connection with the Meeting, which is now available on www.sedar.com. The extension is subject to receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.

About the Fund

The Fund's current investment objectives are to provide unitholders with stable monthly tax-advantaged distributions and the opportunity for capital appreciation through exposure to the Fund's investment portfolio by virtue of its forward agreement. The Class A Units of the Fund are listed for trading on the Toronto Stock Exchange under the symbol TUT.UN.

SOURCE Top 20 U.S. Dividend Trust

View original content: http://www.newswire.ca/en/releases/archive/September2017/05/c7213.html

Copyright CNW Group 2017

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