US: Big Rock lowers monthly distribution
Big Rock Brewery Income Trust has announced its monthly distribution for April.
The trust said yesterday (15 April) that a distribution of US$0.09 per trust unit will be paid on 15 May to unitholders of record on 30 April.
The trust units will begin trading on an ex-dividend basis from 28 April.
Big Rock Brewery's board of directors and the administrator of the trust resolved to decrease the monthly distribution from $0.13 per unit to $0.09 per unit, the company said. This was done to "align the monthly distribution more closely with the current distributable cash from operations and to retain additional cash flow from operations to reinvest in growth," added Big Rock.
The Trust owns all of the securities of Big Rock Brewery, which entitles it to receive all cash flow available for distribution from the business after debt service payments, maintenance capital expenditures and other cash requirements.
Sectors: Beer & cider
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