Financial Statements Core Canadian Dividend Trust [cdd.un] Statements of Changes in Net Assets Years ended December 31 Years ended December 31 Statements of Net Gain (Loss) on Sale of Investments 2010 2009 NET ASSETS, BEGINNING OF YEAR $ 17,251,471 $ 18,806,600 Net Increase in Net Assets from Operations 1,672,373 4,265,768 Unit Transactions (Note 5) Proceeds from issuance of units, net of warrant exercise fees 120,179 – Value for units redeemed (3,975,398) (4,543,062) (3,855,219) (4,543,062) Distributions to Unitholders Non-taxable distributions (1,125,855) (1,277,835) Change in Net Assets during the Year (3,308,701) (1,555,129) NET ASSETS, END OF YEAR $ 13,942,770 $ 17,251,471 2010 2009 Proceeds from Sale of Investments $ 31,592,013 $ 18,249,479 Cost of Investments Sold Cost of investments, beginning of year 19,789,655 22,254,621 Cost of investments purchased 26,845,922 19,160,185 46,635,577 41,414,806 Cost of Investments, End of Year (15,516,914) (19,789,655) 31,118,663 21,625,151 NET GAIN (LOSS) ON SALE OF INVESTMENTS $ 473,350 $ (3,375,672) 12 The notes are an integral part of the Financial Statements. Annual Report 2010