OTTAWA, ONTARIO — (Marketwire) — 04/12/12 — Financial Inc. today announced a cash distribution for Bonnefield LP I (“LP I”) of 5.0%. Beginning in 2012, Bonnefield has instituted a policy for semi-annual cash distributions in June and December, initially targeted at 5.0% per annum.
“These cash distributions validate the thesis of LP I,” said Tom Eisenhauer, Bonnefield-s President. “Our strategy of investing in farmland on an unlevered basis gives us the flexibility to make tax-efficient cash distributions from net income and capital gains generated in the fund – even in our first year of being fully invested.”
LP I currently holds a portfolio of more than 15,000 title acres of farmland located in Alberta, Saskatchewan, Manitoba and Ontario and generates a return for investors through a combination of lease income and capital gains.
As previously announced, investors in LP I experienced a 10.4% net return during fiscal 2011 and a total compounded return of 14.0% since the fund-s inception in April 2010. Bonnefield Canadian Farmland LP I is now closed to new investment and completed its farmland acquisition program in early 2012.
Bonnefield expects to announce a new farmland vehicle for investors in the coming weeks.
Bonnefield
Bonnefield is Canada-s first national farmland investment management and property management company. Our goal is to protect the integrity of while increasing its long-term value. We work with farm operators to help them grow, reduce debt and diversify their assets while promoting good farming practices and wise business choices. We provide investors a means to invest in and hold farmland for long-term capital appreciation and income. Bonnefield is headquartered in Ottawa, Canada with offices in Toronto.
Contacts:
Marcus Mitchell
416-513-9090