Announces half-year results – 30.08.2024

TORONTO, August 30, 2024 (GLOBE NEWSWIRE) — — (TSX: TXT.UN; TXT.PR.A) — Top 10 Split Trust (the “Fund”) announces results of operations for the six months ended June 30, 2024. Decrease in net assets attributable to holders of equity units was $0.13 million, or $0.25 per equity unit. Net assets attributable to holders of equity units at June 30, 2024 were $0.94 million, or $1.88 per equity unit. Cash distributions of $0.39 per preferred security and $0.09 per equity unit were paid to securityholders during the period.

The investment objectives of the Fund for the Capital Units are (i) to provide holders of Capital Units, upon redemption, with the benefit of some capital appreciation in the market price of the securities in the Financial Portfolio and (ii) to pay quarterly distributions to holders of Capital Units in an amount targeted at 7.5% per annum of the net asset value of the Fund. The investment objectives of the Fund for the Preferred Securities are (i) to pay holders of Preferred Securities fixed quarterly cash interest payments of 6.25% per annum on the $12.50 principal amount of a Preferred Security and (ii) to repay the $12.50 principal amount of each Preferred Security upon termination of the Fund.