Fording Announces 2007 Fourth Quarter Cash Distribution-Clarification
11 Dezember 2007 - 1:05AM
Marketwired
CALGARY, ALBERTA (NYSE: FDG) today announced that the Trustees
have declared a fourth quarter cash distribution of CDN$0.53 per
unit to be paid on January 15, 2008 to unitholders of record on
December 31, 2007. The ex-distribution date is December 27, 2007.
This distribution is for the period from October 1, 2007 to
December 31, 2007.
Unitholders who wish to participate in the Premium
Distribution(TM) and Distribution Reinvestment Plan and have not
yet provided instructions to the plan agent or their broker should
do so prior to 5:00 p.m. EST on Thursday, December 20, 2007.
Detailed information about the plan is provided on the Trust's
website at www.fording.ca.
Tax Information for Cash Distributions
The information below is provided to assist unitholders in
understanding the tax treatment of distributions paid by the
Trust.
For unitholders resident in Canada, income distributed by the
Trust will generally be treated as Trust income except where the
income is sourced from capital gains realized by the Trust or from
dividends received by the Trust. In these cases, the Trust intends
to make appropriate designations in its tax returns so that the
capital gains or dividends will retain their character when
distributed to unitholders and will be subject to income tax
accordingly. Distributions to unitholders made in a year that are
greater than the net income of the Trust for the year will not be
included in unitholders' income but will be considered a return of
capital and a reduction of the cost base of the units.
Income distributed by the Trust to non-residents of Canada will
be subject to Canadian withholding tax of 25% subject to reduction
under the provisions of any applicable tax treaty or conventions.
Canadian withholding tax is generally 15% for U.S. holders.
The Trust is taxed as a corporation for U.S. tax purposes.
Accordingly, distributions by the Trust will be considered
foreign-source dividend income to the extent paid out of current or
accumulated earnings and profits of the Trust, determined under
U.S. income tax principles. Assuming that applicable
unitholder-level requirements are met, these distributions are
"qualified dividends," eligible for taxation at reduced rates under
recent U.S. federal income tax legislation. Payments in excess of
current or accumulated earnings and profits will be applied first
to reduce the cost base of the units and then as a capital gain
should the cost base of the units be reduced to zero.
The Trust will issue a statement after the close of its fiscal
year (December 31) that will provide information for Canadian and
U.S. resident investors about the final characterization of the
2007 Trust distributions for income tax purposes.
Unitholders should consult their own tax advisors for advice
with respect to the income tax consequences based on their
particular circumstances.
About Fording
Fording Canadian Coal Trust is an open-ended mutual fund trust
and one of the largest royalty trusts in Canada. The Trust makes
quarterly distributions to unitholders using royalties received
from its 60% interest in the metallurgical coal operations of the
Elk Valley Coal Partnership. The Elk Valley Coal Partnership is the
world's second largest exporter of metallurgical coal, supplying
high-quality coal products to the international steel industry. The
Trust's shares are traded on the Toronto Stock Exchange under the
ticker symbol FDG.UN and on the New York Stock Exchange under the
symbol FDG.
Forward-looking Information
Certain information included in this document is of a
forward-looking nature. Forward-looking information is subject to
known and unknown risks, as well as uncertainties and other
factors. Accordingly, actual results may differ materially from
those expressed or implied in forward-looking information. Some of
the risks, uncertainties and other factors affecting Fording
Canadian Coal Trust are discussed in our public filings with the
securities regulatory authorities in Canada and the United States.
Copies of Fording Canadian Coal Trust's Canadian filings, including
our most recent management information circular, annual information
form, annual report, quarterly reports, material change reports and
news releases, are available online at www.sedar.com, and copies of
our U.S. filings, including our most recent annual report on Form
40-F as supplemented by filings on Form 6-K, are available at
www.sec.gov. Information in this document is presented as of
December 4, 2007 and is subject to change after this date. However,
Fording Canadian Coal Trust disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Contacts: Fording Canadian Coal Trust Colin Petryk Director,
Investor Relations (403) 260-9823 Fording Canadian Coal Trust
Catherine Hart Senior Investor Relations Analyst (403) 260-9817
Email: investors@fording.ca Website: www.fording.ca
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