News and Headlines

TerraVest Income Fund Announces December 2008 Distribution

The Fund announced today that it has declared a cash distribution of $0.055 per Unit, effective with the distribution to be paid on January 15, 2009, to Unitholders of record on December 31, 2008. The ex-distribution date is December 29, 2008.

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TerraVest Income Fund Announces November 2008 Distribution

The Fund announced today that it has declared a cash distribution of $0.055 per Unit, effective with the distribution to be paid on December 15, 2008 to Unitholders of record on November 28, 2008. The ex-distribution date is November 26, 2008.

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TerraVest Releases 2008 Q3 Financial Results

For the 2008 third quarter, the Fund reported revenue of $60.6 million and a net loss of $0.7 million or $0.04 per Unit, which included goodwill and intangible asset impairment charges, compared with revenue of $54.9 million and a net loss of $0.04 million, or $0.03 per Unit, for the 2007 third quarter. Excluding the net impact of the goodwill and intangible asset impairment charges, the Fund had net earnings of $2,470, or $0.13 per Unit.

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TerraVest Income Fund Announces October 2008 Distribution

The Fund announced today that it has declared a cash distribution of $0.055 per Unit, effective with the distribution to be paid on November 17, 2008 to Unitholders of record on October 31, 2008. The ex-distribution date is October 29, 2008.

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TerraVest Announces Normal Course Issuer Bid

The fund announced today that a Notice of Intention to make a Normal Course Issuer Bid has been filed with, and accepted by, the Toronto Stock Exchange, pursuant to which TerraVest may purchase up to 1,005,454 of its units, representing approximately 10% of the public float units outstanding. TerraVest had a total of 19,951,366 units outstanding as at September 29, 2008. The purchases may commence on October 2, 2008, and will terminate no later than October 1, 2009.

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TerraVest Announces September 2008 Distribution

The Fund has declared a cash distribution of $0.055 per Unit, effective with the distribution to be paid on October 15, 2008 to Unitholders of record on September 30, 2008. The ex-distribution date is September 26, 2008.

For further information, please click here.

TerraVest Announces August 2008 Distribution

The Fund has declared a cash distribution of $0.055 per Unit, effective with the distribution to be paid on September 15, 2008 to Unitholders of record on August 29, 2008. The ex-distribution date is August 27, 2008

For further information, please click here.

Terravest at a Glance

TerraVest (TSX: TI.UN) is a publicly traded income trust with a portfolio of six diversified businesses. The Fund's stated objective is to provide stable and increasing cash returns to its unitholders. Its mandate is to build a diversified portfolio of high quality, mid-sized businesses for outstanding growth in per unit distributions and income stability.

The Fund pays monthly distributions on the 15th day of each month to unitholders of record at the end of the previous month

The Fund has invested in six businesses:

RJV is one of the largest providers of wellhead processing equipment for the natural gas industry in western Canada.
Stylus is one of Canada's leading made-to-order upholstered furniture manufacturers.

Don Park is one of Canada's largest manufacturers and suppliers of heating, ventilation and air conditioning (HVAC) products.

Diamond Energy Services is a market leader in providing well servicing to the oil and natural gas sector in south- western Saskatchewan, with a growing presence in Alberta.

Beco Industries is one of Canada’s largest designers, manufacturers and importers of home textile products.

Ezee-On manufactures heavy duty equipment for large acreage grain farms and livestock operations.

General criteria for new investments by TerraVest:

  • Annual revenues above $20 million
  • Demonstrated track record of generating stable cash flow
  • Durable competitive advantage in an attractive industry
  • Ongoing participation of key personnel post aquisition
  • Opportunities for organic growth under existing business practices
  • Accretion to distributable cash per unit