CALGARY, July 19 /CNW/ - Keyera Facilities Income Fund (TSX:KEY.UN;
KEY.DB) announced today a cash distribution for July 2007 of 12.5 cents per
unit. The distribution will be payable on August 15, 2007 to unitholders of
record on July 31, 2007. The ex-distribution date is July 27, 2007.
For tax purposes, Keyera currently expects that approximately 50% to 70%
of its 2007 distributions will be a return of capital for Canadian residents.
This outlook is affected by Keyera's organizational structure and the
implementation of the proposed internal reorganization of Keyera, which was
approved by its Unitholders in June (the "Reorganization"). As Keyera has yet
to receive an advanced ruling from the Canada Revenue Agency, the
implementation date of the Reorganization will be later than previously
anticipated and, as a result, the taxability estimate has been revised
accordingly.
This outlook is subject to change depending on the levels of
profitability and capital expenditures in each of Keyera's operating entities,
as well as further changes in the anticipated timing for the implementation of
the Reorganization. For non-resident unitholders, Keyera's distributions,
including both income and return of capital portions, are subject to Canadian
withholding tax.
This document contains forward-looking statements that involve known and
unknown risks and uncertainties, many of which are beyond Keyera's control.
The forward-looking statements are based on management's current expectations
and assumptions relating to Keyera's business and the environment in which it
operates. As the results or events predicted or implied in these
forward-looking statements depend upon future events, actual results or events
may differ materially from those predicted. Some of the factors which could
cause actual results or events to differ materially include the ability of
Keyera to successfully implement strategic initiatives, whether such
initiatives yield the expected benefits, operating and other costs, future
operating results and the components of those results, fluctuations in the
demand for natural gas, NGLs and crude oil, changes in commodity prices, the
activities of producers, competitors and others, the weather, overall economic
conditions, proposed or actual legislative changes, including any further
announcements by the federal government with respect to the tax treatment of
income trusts and other known or unknown factors. There can be no assurance
that the results or developments anticipated by Keyera will be realized or
that they will have the expected consequences for or effects on Keyera.
In particular, the discussion of the "Reorganization" is forward-looking
information and is based on certain assumptions and a number of known and
unknown risks and uncertainties, of both a general and specific nature, that
could result in the Reorganization not being completed or not being completed
in the manner anticipated. Readers should refer to Keyera's Information
Circular dated April 30, 2007 which is available on the Sedar website
(www.sedar.com) and the Keyera website (www.keyera.com) for a description and
discussion of the Reorganization, including the risks, assumptions and
conditions associated therewith.
For additional information on these and other factors, see Keyera's
public filings on www.sedar.com. Unless otherwise required by applicable laws,
Keyera does not intend to publicly update or revise forward-looking
statements, whether as a result of new information, future events or
otherwise.
%SEDAR: 00019203E
