CALGARY, ALBERTA--(CCNMatthews - Dec. 15, 2005) - Newalta Income Fund (TSX:NAL.UN) ("Newalta") today announced that it has declared a cash distribution of 16.5 cents per trust unit for the month of December 2005, payable on January 16, 2006, to all unitholders of record on December 31, 2005. The ex-distribution date is December 28, 2005.
Newalta's DRIP provides eligible unitholders with the opportunity to reinvest their monthly distribution to acquire additional trust units at a purchase price equal to 95% of the average market price. The deadline for completing and delivering enrollment forms to Valiant Trust Company is 3:00 pm (MST) on the business day immediately preceding the record date.
Based on the December 15, 2005 closing price of $28.00 per trust unit, the December distribution represents an annualized cash-on-cash yield of approximately 7.1%.
Newalta Income Fund has delivered dynamic profitable growth and generated average revenue growth of 30 percent per year since 1993. This growth has come equally from internal growth projects and acquisitions. Newalta is focused on adapting technologies to maximize the value inherent in industrial waste through the recovery of saleable products and recycling, minimizing the need for disposal. With 900 talented people and an integrated network of 47 state-of-the-art facilities, Newalta provides innovative solutions to a broad customer base of national and international corporations in a range of industries, including automotive, forestry, manufacturing, mining, oil and gas, petrochemical, pulp and paper, and transportation services. Based on a track record of exceptional customer service, safe operations and environmental stewardship, Newalta is extending its leadership position into new service sectors and geographic markets from coast to coast.
FOR FURTHER INFORMATION PLEASE CONTACT:
Newalta Income Fund
Ronald L. Sifton
Senior Vice President, Finance & CFO