Article Excerpt

GREAT LAKES HYDRO INCOME FUND $19.08 Toronto symbol GLH.UN; SI Rating: Extra Risk) owns 26 hydroelectric generating stations located on seven river systems in four distinct geographic regions: Quebec, Ontario, British Columbia and New England. Its facilities have 1,015 megawatts of generating capacity. In the three months ended September 30, 2006, Great Lakes’ revenues rose 19.3%, to $37.7 million from $31.6 million. Cash flow per share rose 31.8%, to $0.29 from $0.22. Strong rainfall and improved operating performance boosted the fund’s power generation throughout its operating systems. Great Lakes is 50.1% owned by Brookfield Asset Management (formerly Brascan). That enhances its ability to raise capital. Great Lakes raised its monthly distribution twice last year. It now yields 6.6%. Great Lakes Hydro Income Fund is still a buy. buy…

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