Top 20 U.S. Dividend Trust Declares Monthly Distributions

TORONTO, Oct. 21, 2020 /CNW/ - The Board of Directors of TTU Ltd., as general partner of TTU Limited Partnership, Trustee for Top 20 U.S. Dividend Trust (the "Trust") has today declared monthly distributions for October and November of CAD$0.0417 per Class A Unit and USD$0.0417 per Class U Unit.

Unitholders are entitled to receive monthly distributions as declared by the Trust. The Trust does not have a fixed distribution but generally intends to make monthly distributions based on the dividends and other distributions received on its portfolio and premiums realized by the Trust pursuant to its option writing strategy less the operating expenses. Such distributions may be characterized as income, capital gains and/or returns of capital for tax purposes.

Earlier today Scotia Managed Companies Administration Inc. (the "Manager") announced that the Trust will terminate on December 31, 2020. Accordingly, no distribution will be declared for the month of December.

The Trust's investment objectives are to provide unitholders with stable monthly distributions and the opportunity for capital appreciation, in each case through investment in an equally-weighted portfolio comprised of the 20 highest yielding equity securities included in the Dow Jones Industrial Average.

The units of the Trust are listed for trading on The Toronto Stock Exchange under the symbol TUT.UN.

SOURCE Top 20 US Dividend Trust