Parkland Income Fund Declares Special Distribution and Monthly Distribution Increase

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    RED DEER, AB, Dec. 17 /CNW/ - Parkland Income Fund (TSX: PKI.UN) is
pleased to announce that a special distribution of $0.77 per unit will be paid
to unitholders of record on December 31, 2007. The payment will be made on
January 15, 2008. The special distribution payment will be either all cash or
a combination of cash and Fund units to be determined by the Board of
Directors in early January 2008. In exercising such discretion, the Fund will
consider a number of factors, including the impact of the anticipated Federal
government transition rules related to income trust taxation as well as the
Fund's cash requirements.
    The Fund also is pleased to announce an increase in the regular monthly
distributions to $0.105 per unit from $0.0967 per unit to unitholders of
record on December 31, 2007, and payable on January 15, 2008.
    The distributions reflect the strength of the financial performance for
the year ended December 31, 2007 and are being paid after due consideration of
the anticipated sustainability of the regular monthly distributions. Any
taxable income in excess of these distributions will be retained by a
corporate entity owned by the Fund and used for corporate purposes.

    Parkland Income Fund operates retail and wholesale fuels and convenience
store businesses under its Fas Gas Plus, Fas Gas, Race Trac Fuels and Short
Stop Food Stores brands and through independent branded dealers, and
transports fuel through its Petrohaul division. With approximately 550
locations, Parkland has developed a strong market niche in western and
northern Canadian non-urban markets. Through Neufeld and Joy the Fund markets
propane, gasoline, diesel, lubricants, industrial fluids, agricultural inputs
and delivery services to commercial and industrial customers in northern
Alberta, northeastern British Columbia and the Northwest Territories. Through
United Petroleum the Fund markets wholesale and commercial fuels and
lubricants throughout southern British Columbia. To maximize value for its
unitholders, the Fund is focused on the continuous refinement of its retail
portfolio, increased revenue diversification through growth in non-fuel
revenues and active supply chain management. Parkland operates the Bowden
refinery near Red Deer, Alberta producing drilling fluids on a contract basis.
    The Fund's units trade on the Toronto Stock Exchange (TSX) under the
symbol PKI.UN. For more information, visit

    Forward-Looking Statements
    Certain information included herein is forward-looking. Forward-looking
statements include, without limitation, statements regarding the future
financial position, business strategy, budgets, projected costs, capital
expenditures, financial results, taxes and plans and objectives of or
involving Parkland. Many of these statements can be identified by looking for
words such as "believe", "expects", "expected", "will", "intends", "projects",
"projected", "anticipates", "estimates", "continues", or similar words and
include but are not limited to, statements regarding the accretive effects of
the acquisition and the anticipated benefits of the acquisition. Parkland
believes the expectations reflected in such forward-looking statements are
reasonable but no assurance can be given that these expectations will prove to
be correct and such forward-looking statements should not be unduly relied
upon. Forward-looking statements are not guarantees of future performance and
involve a number of risks and uncertainties some of which are described in the
Fund's annual report, annual information form and other continuous disclosure
documents. Such forward-looking statements necessarily involve known and
unknown risks and uncertainties and other factors, which may cause the Fund's
actual performance and financial results in future periods to differ
materially from any projections of future performance or results expressed or
implied by such forward-looking statements. Such factors include, but are not
limited to: general economic, market and business conditions; industry
capacity; competitive action by other companies; refining and marketing
margins; the ability of suppliers to meet commitments; actions by governmental
authorities including increases in taxes; changes in environmental and other
regulations; and other factors, many of which are beyond the control of
Parkland. Any forward-looking statements are made as of the date hereof and
the Fund does not undertake any obligation, except as required under
applicable law, to publicly update or revise such statements to reflect new
information, subsequent or otherwise.

For further information: Parkland Industries Ltd., Administrator of
Parkland Income Fund: Red Deer: Michael W. Chorlton, President and CEO, (403)
357-6400; John G. Schroeder, Vice President and CFO, (403) 357-6400 or visit
Parkland's web site at