Press Release Details

Crius Announces First Quarter 2019 Distribution and Change to Quarterly Distribution Schedule

January 16, 2019


TORONTO, Jan. 16, 2019 /CNW/ -  Crius Energy Trust (the "Trust" or "Crius Energy") (TSX: KWH.UN) announced today that the Board of Directors of Crius Energy Administrator Inc., the administrator of the Trust (the "Board") has approved a change in the Trust's distribution schedule from a monthly distribution to a quarterly distribution. In conjunction with the change to a quarterly distribution schedule, the Board also approved a distribution of $0.209 per Unit for the first quarter of 2019.

Under the new quarterly distribution schedule, any future distributions declared by the Board would be for the three-month period ending on March 31, June 30, September 30 or December 31, as applicable. The distribution record date for each quarterly distribution period will be the last Business Day (as defined in the Trust indenture) of the second calendar month following the end of the applicable quarter, with the distribution payment date to be the 15th day of the month following the distribution record date (or if such day is not a Business Day, on the following Business Day).

In accordance with the new quarterly distribution schedule, the distribution record date and distribution payment date for the distribution of $0.209 per Unit for the first quarter of 2019 will be May 31, 2019 and June 17, 2019, respectively.

With the exception of the distribution for the first quarter of 2019, which was approved by the Board on January 14, 2019, the Board expects that any future quarterly distributions will normally be declared on or about the 15th day of the month immediately following the end of the applicable quarterly distribution period.

"We are pleased to maintain our distribution for the first quarter of 2019 at the same level paid to unitholders in the fourth quarter of 2018. We are confident that the strategic changes we've made to our business, which result in a $35 million annual improvement to our earnings, support the sustainability of the distribution going forward," commented Michael Fallquist, Chief Executive Officer of Crius Energy. "The change to a quarterly distribution schedule aligns with our strategy to simplify and streamline operations, allows us to better manage our intra-quarter liquidity and brings our distribution payment policy in line with our industry peers as well as the majority of TSX-listed companies that pay dividends regularly."

About Crius Energy Trust

With approximately 1.3 million residential customer equivalents, Crius Energy provides competitive electricity and natural gas products to residential and commercial customers in 19 states and the District of Columbia in the United States. The Company sells energy products through a family of brands strategy utilizing a multi-channel sales approach including exclusive partnerships, direct-to-consumer channels, and broker marketing channels. Crius Energy offers consumers a broad suite of energy products and services including fixed and variable contracts, renewable energy, and bundled products to support their energy needs beyond what is offered by their local utility.

The Trust intends to continue to qualify as a "mutual fund trust" under the Income Tax Act (Canada) (the "Tax Act"). The Trust will not be a "SIFT trust" (as defined in the Tax Act), provided that the Trust complies at all times with its investment restriction which precludes the Trust from holding any "non-portfolio property" (as defined in the Tax Act). Material information pertaining to Crius may be found on SEDAR under the Trust's issuer profile at or on the Trust's website at

Caution Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") including, without limitation, statements relating to the distribution policy of the Trust; a change from a monthly distribution schedule to a quarterly distribution schedule; the timing and ability of the Trust to pay distributions in the future, if at all; the Trust's outlook, strategy, and ability to execute its business objectives; future payments owed by and to the Company. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. All forward-looking statements reflect the Trust's beliefs and assumptions based on information available at the time such statements were made. Actual results or events may differ from those predicted, assumed or inferred in forward-looking statements. All of the Trust's forward-looking statements are qualified by: (i) the assumptions that are stated or inherent in such forward-looking statements; (ii) the risks described in the sections entitled "Risk Factors" and "Forward-Looking Statements" in the annual information form of the Trust for the fiscal year ended December 31, 2017, dated March 8, 2018, which is available on SEDAR ( under the Trust's issuer profile and on the Trust's website ( Forward looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements, including, without limitation, the distribution policy of the Trust being within the discretion of the Board; the timing and ability of the Trust to pay distributions in the future being subject to the cash and borrowing availability of the Trust; the distribution policy of the Trust being subject to change without notice to unitholders of the Trust

Although the Trust has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Trust disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

SOURCE Crius Energy Trust