ETFs
Harvest ETFs Announces Increases in Monthly Cash Distributions
OAKVILLE, Ontario, June 25, 2024–(BUSINESS FEED)–Harvest Portfolios Group Inc. (“Harvest”) announces increases to the monthly cash distribution amounts for the Harvest ETFs (“ETFs”) described in the table below. The new monthly cash distribution amounts will be effective on the record date of July 31, 2024 and will be payable on August 9, 2024. The increase in distribution amounts is intended to provide a reasonable and sustainable distribution yield to unitholders ETFs while continuing to provide the opportunity for long-term capital appreciation through exposure to the investment mandate of each ETF.
“Harvest is proud of our ETFs’ long-term record of stable monthly cash distributions and we are pleased to announce these increases as an important part of the ETFs’ total returns for unitholders,” said Michael Kovacs, President and CEO. CEO of Harvest. “Later in 2024 will mark the 10th anniversary of the Harvest Healthcare Leaders Income ETF (“HHL”). Over nearly 10 years, HHL has paid $450 million (CAD) in regular monthly cash distributions as of May 31, 2024.”
Details regarding the increase in monthly cash distribution amounts for the Harvest ETFs are as follows in the table below:
1 For Class U units, amounts are in US dollars. All other amounts are in Canadian dollars.
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The harvest has has established a Distribution Reinvestment Plan (“DRIP”) for the Harvest ETFs described above, allowing investors to easily benefit from compounding their distributions on a monthly basis. Each is listed on the Toronto Stock Exchange (TSX) and is eligible for the Distribution Reinvestment Plan, provided their investment dealer supports participation in the DRIP. Investors can enroll in the DRIP by contacting their investment broker, otherwise distributions will be paid in cash.
For more information: please visit www.harvestportfolios.comE-mail info@harvestetfs.com or call toll-free at 1-866-998-8298.
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For media inquiries: contact Caroline Grimont, Vice President of Marketing at cgrimont@HarvestETFs.com
About Harvest Portfolio Group Inc.
Founded in 2009, Harvest is an independent Canadian investment fund manager that manages $4.3 billion in assets for Canadian investors. At Harvest ETFs, we believe investors can create and preserve wealth by owning high-quality companies for the long term. This fundamental philosophy is at the heart of our investment approach across our range of ETFs.
Harvest ETF’s core offerings center around covered call strategies, available in three variations: equity, enhanced equity, and fixed income. In our equity income portfolios, we follow a three-step process: identifying promising growth areas; select companies well positioned in these sectors; and maximize returns by generating revenue from covered calls. To enhance potential returns, we offer leveraged exposure to select Harvest ETFs through our enhanced lineup. Our fixed income ETFs focus on investing in U.S. Treasury ETFs while employing a covered call strategy. This approach allows us to provide high monthly distributions to our investors. For those looking for ETFs without call options, we also offer our Growth Equity ETFs, specifically designed to capture opportunities in growing sectors and key trends.
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You will usually pay brokerage fees to your broker if you buy or sell shares of the investment fund on the TSX. If shares are purchased or sold on the TSX, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning shares of an investment fund. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Distributions are paid to you in cash, unless you request, under the terms of your participation in a distribution reinvestment plan, that they be reinvested in Class A, Class B or Class U units of the Fund. If the Fund earns less than the amounts distributed, the difference constitutes a return of capital. An investment fund must prepare information documents containing key information about the investment fund. You will find more detailed information about the investment fund in these documents. The current yield represents an annualized amount consisting of 12 unchanged monthly distributions (using the most recent month’s distribution figure multiplied by 12) as a percentage of the Fund’s closing price. The current yield does not represent the historical returns of the ETF, but represents the distribution an investor would receive if the most recent distribution remained the same in the future.
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Contacts
For more information :
Website: https://harvestetfs.com
E-mail: info@harvestetfs.com
Toll free: 1-866-998-8298