TORONTO, Nov. 29,
2023 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs")
announced today the estimated non-cash distributions (the
"Non-Cash Distributions") to unitholders of certain exchange
traded funds (the "ETFs") it manages for the 2023 tax year
as indicated in the table below. Those ETFs managed by Horizons
ETFs not listed in the table are not expected to have Non-Cash
Distributions for the 2023 tax year.
Please note that these are estimated amounts only as of
November 28, 2023. Circumstances may
arise which could cause these estimates to change before the ETFs'
applicable tax year ends on December 15,
2023.
Each ETF is required to distribute any net income and capital
gains it has earned during the year. The Non-Cash Distributions
will be automatically reinvested in additional units of the
respective ETFs and immediately consolidated so that the number of
units held by the unitholder (the outstanding units of the ETFs)
and the net asset value of the ETFs will not change as a result of
the Non-Cash Distributions. The annual Non-Cash Distributions will
be reported to unitholders as taxable distributions and will
increase each unitholder's adjusted cost base for the respective
ETF. The Non-Cash Distributions may be income and/or capital gains
in nature. These estimated amounts are for the Non-Cash
distributions only and do not include any estimates of the regular
monthly or quarterly cash distributions, as applicable, including
income and capital gains amounts that may form a part of the
monthly and/or quarterly distributions.
Horizons ETFs expects to announce the final year-end Non-Cash
Distribution amounts, as well as any regular monthly or quarterly
cash distribution amounts, on or about December 20, 2023. The ex-dividend dates for all
of these distributions (cash and non-cash) are anticipated to be
December 28, 2023 and December 29, 2023, for all unitholders
of record on December 29, 2023. In
early 2024, the tax characteristics of all distributions for 2023
for the ETFs will be reported to brokers via the Clearing and
Depository Services Inc. (CDS) and will be posted on our website
shortly thereafter.
|
ETF Name
|
Ticker
Symbol
|
Estimated
Non-Cash
Distributions
per Unit as of
Nov. 28, 2023 (1)
|
Net Asset
Value (NAV) per
Unit as of
Nov. 28,
2023
|
Estimated
Non-Cash
Distributions as
a % of NAV as
of
Nov. 28,
2023
|
|
Horizons Seasonal
Rotation ETF
|
HAC
|
$0.25655
|
$27.19664
|
0.94 %
|
|
Horizons Pipelines
& Energy Services Index ETF
|
HOG
|
$0.50505
|
$9.93824
|
5.08 %
|
|
Horizons Inovestor
Canadian Equity Index ETF
|
INOC
|
$0.12005
|
$13.55810
|
0.89 %
|
|
Horizons Global Uranium
Index ETF
|
HURA
|
$0.35273
|
$35.24747
|
1.00 %
|
|
Horizons Canadian
Utility Services High Dividend Index ETF
|
UTIL
|
$0.29374
|
$19.83358
|
1.48 %
|
|
Horizons Copper
Producers Index ETF
|
COPP
|
$1.41442
|
$23.72611
|
5.96 %
|
|
Horizons 0-3 Month U.S.
T-Bill ETF(2)
|
UBIL.U
|
$0.93864
|
$50.18633
|
1.87 %
|
|
(1)
|
Distributions for
all of the ETFs listed in the table are expected to be capital
gains in nature.
|
|
(2)
|
The ex-dividend date
for Horizons 0-3 Month U.S. T-Bill ETF distributions is anticipated
to be December 29, 2023.
|
About Horizons ETFs Management
(Canada)
Inc. (www.HorizonsETFs.com)
Horizons ETFs Management (Canada) Inc. is an innovative financial
services company and offers one of the largest suites of exchange
traded funds in Canada. The
Horizons ETFs product family includes a broadly diversified range
of solutions for investors of all experience levels to meet their
investment objectives in a variety of market conditions. Horizons
ETFs has more than $28 billion of
assets under management and 119 ETFs listed on major Canadian stock
exchanges. Horizons ETFs is a wholly owned subsidiary of the Mirae
Asset Financial Group, which manages approximately $710 billion of assets across 13 countries around
the world.
This communication is intended for informational purposes
only and does not constitute an offer to sell or the solicitation
of an offer to purchase exchange traded products managed by
Horizons ETFs Management (Canada) Inc. (the "Horizons Exchange Traded
Products") and is not, and should not be construed as, investment,
tax, legal or accounting advice, and should not be relied upon in
that regard. Individuals should seek the advice of professionals,
as appropriate, regarding any particular investment. Investors
should consult their professional advisors prior to implementing
any changes to their investment strategies. These investments may
not be suitable to the circumstances of an investor.
Commissions, management fees, and expenses all may be
associated with an investment in the Horizons Exchange Traded
Products. The Horizons Exchange Traded Products are not guaranteed,
their values change frequently and past performance may not be
repeated. The prospectus contains important detailed information
about the Horizons Exchange Traded Products. Please read the
relevant prospectus before investing. Investment funds
are not covered by the Canada Deposit Insurance Corporation or any
other government deposit insurer.
Certain statements may constitute a forward-looking
statement, including those identified by the expression "expect"
and similar expressions (including grammatical variations thereof).
The forward-looking statements are not historical facts but reflect
the author's current expectations regarding future results or
events. These forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results or events
to differ materially from current expectations. These and other
factors should be considered carefully and readers should not place
undue reliance on such forward looking statements. These
forward-looking statements are made as of the date hereof and the
authors do not undertake to update any forward-looking statement
that is contained herein, whether as a result of new information,
future events or otherwise, unless required by applicable
law.
SOURCE Horizons ETFs Management (Canada) Inc.