Fiscal 2012 MIP Unit Income Distribution Rate
We are proposing to the Board of Governors that the Fiscal 2012 MIP unit rate be $13.33 ($14.60 in Fiscal 2011).
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The MIP unit rate for Fiscal 2012 has been calculated using a 4.25% distribution rate based on a three-year rolling average of Endowment Fund market values for the three-years ending at May 31, 2010. This calculation is consistent with past calculations, with the exception of Fiscal 2010. In Fiscal 2010, the unit rate was calculated using the 3-year average, including the immediately preceding year (i.e. 2009).
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The decrease in the Fiscal 2012 MIP rate has been influenced by the market value of the Endowment at May 31, 2010 ($849 Million). In addition, more units are outstanding and have also directly affected the MIP rate.
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Should you have any questions concerning this matter; please do not hesitate to call Cristiane Tinmouth, Controller (ext 2310) or Leah Trineer, Senior Financial Officer (ext 1839).