AltaGas Income Trust announces monthly distribution
CALGARY--(CCNMatthews - June 15) - AltaGas Income Trust (AltaGas)
(TSE:ALA.UN) announced today that a monthly distribution will be paid on July
15, 2004 to holders of record on June 25, 2004, of Trust Units and
partnership units that are exchangeable into Trust Units (Exchangeable
Units). The amount of the distribution will be $0.15 for each Trust Unit and
each Exchangeable Unit.
On May 20, 2004 AltaGas adopted Premium Distribution(TM), Distribution
Reinvestment and Optional Unit Purchase Plans (the Plans) for eligible
holders of Trust Units and Exchangeable Units (collectively Unitholders) of
AltaGas Income Trust, AltaGas Holding Limited Partnership No. 1 and AltaGas
Holding Limited Partnership No. 2.
To participate in the applicable Plan, registered Unitholders must deliver
the appropriate properly completed and signed authorization forms provided by
AltaGas for such purpose to Computershare Trust Company of Canada no later
than 3:00 p.m. (Calgary time) on the business day immediately preceding a
distribution record date in order for the cash distribution or cash payment
to which such record date relates to be reinvested or invested, as the case
may be, under the applicable Plan. Beneficial owners of Trust Units or
Exchangeable Units (i.e. owners of Trust Units or Exchangeable Units that are
held through a nominee such as a broker or custodian) who wish to participate
in the applicable Plan should contact their broker, investment dealer,
financial institution or other nominee who hold their Trust Units or
Exchangeable Units to provide instructions regarding their participation in
the applicable Plan. See additional information on the Plans on AltaGas'
website at www.altagas.ca.
AltaGas moves energy from its source to the end user, adding value through
the process. The Trust has assets totalling almost $950 million and a market
capitalization of approximately $1 billion. Its steadily expanding asset base
today includes natural gas gathering and processing facilities, interests in
ethane and natural gas liquids extraction plants, and transmission pipelines.
AltaGas distributes natural gas to Alberta customers through AltaGas
Utilities Inc., to customers in the Northwest Territories through the Ikhil
Gas Project and distributes gas in Nova Scotia through its interest in
Heritage Gas Limited. The Trust provides energy services to customers,
including marketing of natural gas and natural gas liquids and sale of power
from its power purchase based arrangements.
AltaGas' Trust Units are listed on the Toronto Stock Exchange under the
symbol ALA.UN. The Trust is included in the S&P/TSX Capped Income Trust Index
and the S&P/TSX Capped Energy Trust Index.
When used in this news release, the words "anticipate," "estimate," and
similar expressions are intended to identify forward looking statements. Such
statements are subject to certain risks, uncertainties and assumptions that
could cause actual results to differ materially from those contemplated in
the forward looking statements. These risks and uncertainties include
operating performance, regulatory and environmental issues, weather and
economic conditions, competition and financing availability. For additional
information on these and other factors see the reports filed by AltaGas with
Canadian securities regulators. AltaGas disclaims any intention or obligation
to update or revise any forward looking information whether as a result of
new information or future event.