Canoe EIT Income Fund Declares Monthly and Quarterly Payments

Canoe EIT Income Fund Announces Monthly and Quarterly Distributions

CALGARY, Alberta, Nov. 8, 2024 — Canoe EIT Income Fund (the “Fund”) (TSX - EIT.UN) has officially declared its monthly distribution for November 2024, setting it at $0.10 per unit. In addition to this, the Fund has also revealed a quarterly distribution for its preferred units, where unitholders of Cumulative Redeemable Series 1 (EIT.PR.A) and Series 2 Preferred (EIT.PR.B) will both receive a distribution of $0.30 per unit. Those unitholders who are on record as of November 22, 2024, will have their payouts processed on December 13, 2024.

Understanding Canoe EIT Income Fund

Canoe EIT Income Fund is recognized as one of Canada’s premier closed-end investment funds. Its main goal is to maximize the monthly distributions and capital appreciation by cultivating a diverse investment portfolio filled with high-quality securities. Investors can find the Fund on the TSX under the ticker symbol EIT.UN, and its management is led by Robert Taylor, who serves as the Senior Vice President and Chief Investment Officer at Canoe Financial.

The Growth of Canoe Financial

Canoe Financial has emerged as one of Canada's rapidly expanding independent mutual fund companies, boasting management of over $18.0 billion across an array of award-winning investment solutions. Since its inception in 2008, it has been dedicated to the financial prosperity of Canadians and operates as an employee-owned firm. Canoe Financial maintains a robust presence across the country with offices located in Calgary, Toronto, and Montreal.

Investor Relations and Contact Information

For more information regarding the Fund and its distributions, interested parties can reach out to the Investor Relations team at 1–877–434–2796 or visit their website at www.canoefinancial.com. Email inquiries can be directed to info@canoefinancial.com.

Understanding Return of Capital and Investment Risks

The Fund's monthly distributions may include an element known as Return of Capital (ROC), which reflects a portion of the net asset value per unit. This ROC has the potential to decrease the overall investment amount initially made by the investor and might even lead to returning the entire original investment amount over time. It's crucial for investors to comprehend that ROC which is not reinvested could diminish the Fund’s net asset value, ultimately affecting its capability to generate future income. Therefore, it’s advisable for investors to not solely rely on the distribution amount as a measure of the Fund’s investment success.

Investing with Caution

Investors should be mindful that various fees, including commissions, trailing commissions, and management expenses may come with investment funds. Prior to investing, it's recommended that one review the relevant information filed about the fund. Additionally, it should be noted that investments are not guaranteed, and historical performance does not guarantee future results.

Seeking Professional Advice

It's important to clarify that this announcement should not be regarded as a public offering to sell or a solicitation to purchase securities. Legal offers can only be made through a formal prospectus or other offering documents, which investors should review thoroughly before making any decisions. This communication serves purely informational purposes, and individuals should consult their Investment Advisor for personalized insights and risk considerations regarding various investment products.

Frequently Asked Questions

What is the distribution amount for November 2024?

The Canoe EIT Income Fund has announced a distribution of $0.10 per unit for November 2024.

When will the distributions for preferred units be paid?

The quarterly distribution for preferred units will be processed on December 13, 2024.

Who is responsible for managing the Canoe EIT Income Fund?

The Fund is actively managed by Robert Taylor, who is the Senior Vice President and Chief Investment Officer at Canoe Financial.

What is Return of Capital (ROC)?

Return of Capital (ROC) is a portion of the net asset value per unit that can reduce the original investment amount. Investors should understand its implications on net asset value and future income generation.

How can I contact Canoe Financial for more information?

Investors can call 1–877–434–2796 or visit www.canoefinancial.com for further inquiries.

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Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.