Lynx Equity Income Trust Increases Distribution by 15 Basis Points on Preferred Units Issued From 2016 to 2021
The Lynx Equity Income Trust (the Trust) is pleased to announce an increase on annual distribution by 15 basis-point (BPs) on its 2016 – 2023 preferred units for the quarter ending June 30, 2023.
Annual yield on units will now be as follows:
This year’s distribution increase is a continuation of the Trust's annual yield review of seasoned units. As Lynx Equity Limited’s (Lynx) Subsidiary Portfolio grows, the Trust’s seasoned units increase as well. This year’s increase at 15 BPs is higher than last year’s 10 BP increase, which reflects the continued strength across Lynx’s US-based operations.
Lynx’s fiscal year (FY) runs from August 1 – July 31. Throughout FY2022, Lynx’s US revenue increased by $269M from $184M in FY2021. Overall, FY2022’s revenue growth was 41% and this was driven by organic acquisition growth (15%) and acquisition-related growth (26%). Altogether, Lynx’s operations in Canada, the US, the UK, and Denmark currently have revenue in excess of $750M.
About the Lynx Equity Income Trust
The Lynx Equity Income Trust provides investors with an attractive yield in a registered account eligible investment backed by Lynx Equity Limited’s U.S. operations.
For more information, visit www.lynxincometrust.com or contact:
Michael Denny, Managing Director
Lynx Investment Corp
E: mdenny@lynxincometrust.com
T: 416-303-1111
About Lynx Equity Limited
With sales in excess of $750M, Lynx Equity Limited is a diversified Toronto-based private equity firm focused on acquiring small and medium-sized businesses from owners looking to retire or seeking strategic opportunities. Lynx targets acquisitions of companies with EBITDA between $1M to $5M and applies a buy-and-hold strategy.
For more information, visit www.lynxequity.com