Precision Drilling Trust announces January 2006 Cash Distribution and United States Federal Income Tax Information for 2005
20 Januar 2006 - 5:59PM
PR Newswire (US)
CALGARY, Jan. 20 /PRNewswire-FirstCall/ -- Precision Drilling Trust
("Precision") announces today that the cash distribution for the
month of January 2006 will be Cdn$ 0.27 per trust unit of
Precision. The distribution will be payable on February 15, 2006 to
unitholders of record on January 31, 2006. The ex- distribution
date is January 27, 2006. A payment of Cdn$ 0.27 per unit will also
be made to holders of Class B limited partnership units of
Precision Drilling Limited Partnership using the same record date
and payment date. United States Federal Income Tax Information for
2005 Based on advice from Precision's United States tax advisors,
the issued and outstanding trust units of Precision will be
classified as equity rather than as debt for United States federal
income tax purposes. Precision believes that the cash distributions
paid in 2005, out of its current and accumulated earnings and
profits, to individual United States unitholders, should be treated
as qualified dividend income for United States federal income tax
purposes eligible for the reduced maximum rate of tax to
individuals of generally 15%. More detailed information regarding
the 2005 distribution will be reported at a later date on
Precision's website at http://www.precisiondrilling.com/. United
States unitholders are advised to consult their own tax advisers as
to the specific United States federal and state income tax
consequences of having received a cash distribution in 2005 from
Precision. Precision Drilling Trust is Canada's largest energy
services trust. Headquartered in Calgary, Alberta, Precision is the
leading provider of contract drilling services to the Canadian oil
and gas industry. Precision provides customers with access to an
extensive fleet of drilling and service rigs backed by a
comprehensive mix of support services utilizing skilled and
experienced personnel. Precision is listed on the Toronto Stock
Exchange under the trading symbol "PD.UN" and in U.S. dollars
"PD.U" and on the New York Stock Exchange under the trading symbol
"PDS". DATASOURCE: Precision Drilling Trust CONTACT: Doug Strong,
Chief Financial Officer of Precision Drilling Corporation,
Administrator of Precision, 4200, 150 - 6th Avenue S.W., Calgary,
Alberta, T2P 3Y7, Telephone (403) 716-4500, Fax (403) 264-0251;
website: http://www.precisiondrilling.com/; Archived images on this
organization are searchable through CNW Photo Archive website at
http://photos.newswire.ca/. Images are free to accredited members
of the media. To request a free copy of this organization's annual
report, please go to http://www.newswire.ca/ and click on Tools for
Investors.
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