CALGARY, Alta. — The board of directors of Mullen Group announced today that a monthly distribution of $0.15 per trust unit of Mullen Group Income Fund has been declared for the month of November. The distribution will be paid on Dec. 15 to unitholders of record as of Nov. 30. A distribution of $0.15 per unit will also be paid to holders of Mullen Co. Limited Partnership B Units using the same record date and payment date.
The announcement comes three weeks after the Canadian introduced its new Tax Fairness Plan, which looks to create a level playing field between income trusts and corporations. The governments plan, announced by the Honourable Jim Flaherty, Minister of Finance, intends to restore balance and fairness to the federal tax system, by installing a Distribution Tax on distributions from publicly traded income trusts by 2011. The Toronto Stock Exchange plummeted almost 300 points Nov. 1 as investors dumped income trusts and blue-chip companies looking to convert to trusts.
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