Distributions
Distributions to our
unitholders will be determined
by our general partner.
Our general partner
has adopted a distribution policy
under which
our partnership will make quarterly
cash distributions in an initial
amount of $0.265
per unit.
This distribution policy targets a distribution level that is
sustainable on a long-term basis
while retaining sufficient liquidity
for capital expenditures within
our current operations and general
purposes. We believe that a distribution
of 60% to 70% of adjusted net
operating income* (ANOI) will allow
us to meet these objectives. From time-to-time
our distributions may exceed
these percentages as a result
of acquisitions that are attractive
on a long-term cash flow and/or
total return basis but are not
immediately accretive to ANOI.
*Adjusted net operating income is equal to net income plus depreciation,
depletion and amortization, deferred
taxes and certain other items.
2008 Distributions and Estimated Withholding Tax
| November 28, 2008 |
December 31,
2008 |
$0.265 |
TBD |
TBD |
| August 29, 2008 |
September
30, 2008 |
$0.265 |
nil |
$0.018 |
| May 30, 2008 |
June
30, 2008 |
$0.265 |
nil |
$0.058 |
| February 29, 2008 |
March 31, 2008 |
$0.0882* |
nil |
nil |
|
1 Withholding
Tax Procedures for U.S. Source
Interest Income:
- Nil withholding tax
applies to U.S. residents
provided they submit a
valid W-9 Form
- Nil
withholding tax applies to
Canadian residents provided
they hold less than 10% of
BIP Units and they submit
a valid W-8BEN Form
* This
distribution amount has been
pro-rated for the period between
the spin-off of Brookfield
Infrastructure Partners on
January 31, 2008 and the record
date of the distribution based
on the Partnership's initial
quarterly distribution of $0.265
per unit. |
