E-Delivery

(b) Dividends: e Fund intends to pay dividends to shareholders on a monthly basis, on or about the 15th day following the end of each month. For the year ended February 28, 2015, the Fund declared dividends on Class A preferred shares of $2,836,196 (February 28, 2014 - $1,431,265) on the issued and outstanding preferred shares. As at February 28, 2015 $140,567 (February 28, 2014 - $67,651 and March 1, 2013 - $43,380) was payable to the Class A preferred shareholders. For the year ended February 28, 2015, the Fund declared dividends on Class B preferred shares of $1,404,102 (February 28, 2014 - $590,072) on the issued and outstanding preferred shares. As at February 28, 2015, $78,070 (February 28, 2014 - $51,028 and March 1, 2013 - $3,681) was payable to the Class B preferred shareholders. (c) Dividend reinvestment plan: e Fund has instituted a dividend reinvestment plan ("DRIP") available to Class A and Class B preferred shareholders. Under the DRIP, shareholders may enroll to have their dividends reinvested to purchase additional preferred shares of the same class. e preferred shares are issued from treasury at an amount of $10.00 per share. For the year ended February 28, 2015, 140,162 (February 28, 2014 - 74,606 and March 1, 2013 - 36,716) Class A preferred shares were issued under the DRIP, resulting in reinvested dividends of $1,401,616 (February 28, 2014 - $746,055). For the year ended February 28, 2015, 58,554 (February 28, 2014 - 17,419 and March 1, 2013 - 48) Class B preferred shares were issued under the DRIP, resulting in reinvested dividends of $585,537 (February 28, 2014 - $174,189). Dividend reinvestments are recorded on a monthly basis. 8. Earnings per share: e following table reconciles the numerators and denominators of the basic and diluted earnings per share for the years ended February 28, 2015 and 2014. Feb 28, 2015 Class A preferred shares Class B preferred shares Total Net Income and comprehensive income $ 2,836,196 $ 1,404,102 $ 4,240,298 Basic weighted average number of shares 3,386,119 1,676,350 5,062,469 Dilutive effect of potential shares - - - Diluted weighted average number of shares 3,386,119 1,676,350 5,062,469 Earnings per share - basic and diluted $ 0.84 $ 0.84 $ 0.84 Feb 28, 2014 Class A preferred shares Class B preferred shares Total Net Income and comprehensive income $ 1,434,687 $ 590,496 $ 2,025,183 Basic weighted average number of shares 1,684,536 693,330 2,377,866 Dilutive effect of potential shares - - - Diluted weighted average number of shares 1,684,536 693,330 2,377,866 Earnings per share - basic and diluted $ 0.85 $ 0.85 $ 0.85 For the years ended February 28, 2015 and 2014, the Fund had no outstanding convertible instruments that would trigger conversation of potential preferred shares to preferred shares. 51

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