TORONTO, Feb. 19 /CNW/ - TDK Resource Fund Inc. announced today that Class A, Series 1 shareholders of record at the close of business on February 18, 2002 received a capital gains dividend totaling $5,329,457 ($3.98 per Share). All dividends were automatically reinvested in shares of the Fund, unless a shareholder had previously elected in writing to receive such dividends in cash. The capital gains being distributed were generated during the year-ended December 31, 2001 as a result of the sale of securities in order to fund redemptions that the Fund experienced following the rollovers of TDK (1998) Flow-Through Limited Partnership and TDK (1999) Flow-Through Limited Partnership into the Fund, and as a result of the disposition of other securities in the portfolio primarily due to takeovers by other companies. Notwithstanding that the dividend relates to activity of the Fund in 2001, it is only taxable in the shareholders' hands for the 2002 taxation year.
The Fund is pleased to announce that its first full year's performance of 12.6% for the one year period January 31, 2001 to January 31, 2002 exceeded the negative (16.63%) return of the TSE 300 Index, the 12.24% return of the TSE Oil and Gas Sub-Index, and the 1.13% return of the Nesbitt Burns Small Cap Index (unweighted) over the same period.
For further information: please call TDK Fund Management Inc. at (416) 362-2929 or (800) 407-0287.