STA's policy is to distribute its available cash to the maximum extent possible by way of equal monthly distributions of dividend.
Its policy is for unitholders of record on the last business day of a calendar month to receive distributions on the fifteenth day (or the next business day if the fifteenth is not a business day) of the next calendar month.
Pursuant to new tax legislation, Canadian resident individuals who receive "eligible dividends" in 2006 and subsequent years will be entitled to an enhanced gross-up and dividend tax credit, resulting in a reduction of income taxes otherwise payable on those dividends. Student Transportation of America Ltd. has designated that all of its dividends paid in 2006 are "eligible dividends" for these purposes.
Student Transportation of America Ltd. also advises that all of its dividends will be designated as "eligible dividends" for 2007 and subsequent years, unless indicated otherwise.
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Monthly distributions are to be paid to Unitholders of record on the last business day of each calendar month or such other date as may be determined from time to time by the directors of STA. Please refer to STA’s Annual Information Form for the period ended June 30, 2006 for the full version of the Distribution Policy.