Stock Name: GII.UN
Amount: CAD 0.035
Announcement Date: 19/09/2011
Record Date: 28/09/2011
Dividend Detail:
MONTREAL, Sept. 19, 2011 /CNW Telbec/ - Global Diversified Investment
Grade Income Trust II ("Global DIGIT II") declares the following
monthly distribution consisting of a partial capital reimbursement:
Trading Symbol | Distribution Amount (per unit) | Record Date | Payable Date | Total Distributions declared or paid in 2011 (all capital reimbursements) | TSX Closing Price per unit on September 19, 2011 |
GII.UN | $0.035 | September 30, 2011 | October 17, 2011 | $0.35 | $2.18 |
One of the objectives of Global DIGIT II was to provide unitholders with
a monthly distribution which, starting March 2010, would have been an
amount equal to the five-year government of Canada bond yield plus 4.0%
to 4.5%. However, in light of the amounts withheld by Deutsche Bank AG,
Canada Branch ("DB") in relation to credit events notified in
November 2009 to Global DIGIT II, until the final determination of the
amount of losses from such credit events, distributions will be
approximately equal to the five-year government of Canada bond yield
plus a spread of 1.10% to 1.71%, or $0.03 to $0.035 per unit.
Global DIGIT II also announces that the net asset value ("NAV") per unit
as of September 15, 2011 was estimated to be $0.52.
The NAV on a particular date is equal to the aggregate value of the
assets of Global DIGIT II, less the aggregate value of its liabilities.
Substantially all of the assets of Global DIGIT II consist of cash and
three credit default swaps entered into with DB and the related
collateral.
About Global DIGIT II
Global DIGIT II provides an economic interest in an equity tranche of
credit default swap agreements in respect of portfolios of
mortgage-backed securities, asset-backed securities, structured finance
securities and synthetic corporate exposures.
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