Top 20 U.S. Dividend Trust Announces Minimum Unit Condition Has Been Satisfied

TORONTO, Oct. 17, 2017 /CNW/ - Top 20 U.S. Dividend Trust (the "Fund"), announced today that the final condition required to extend the term of the Fund for an additional five years to October 31, 2022 has been met. Holders (the "Unitholders") of Class A Units and Class U Units (together, the "Units") previously approved the extension subject to the condition that a minimum of 900,000 Class A Units remain outstanding following the October 31, 2017 special retraction right (the "Special Retraction Right").

Under the Special Retraction Right 590,324 Class A Units and 112,700 Class U Units were tendered by yesterday's deadline for retraction on October 31, 2017. Following the completion of the Special Retraction Right, 2,332,518 Class A units and 372,890 Class U units will remain outstanding. Unitholders continuing their investment in the Fund will enjoy the benefit of stable monthly distributions and the opportunity for capital appreciation from the Fund's investment portfolio.

About the Fund
The Fund's current 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 dividend yielding equity securities included in the Dow Jones Industrial Average. The Class A Units of the Fund are listed for trading on the Toronto Stock Exchange under the symbol TUT.UN.

SOURCE Top 20 U.S. Dividend Trust