Harvest ETFs Releases Estimated Annual Distributions
Harvest Portfolios Group Inc. is pleased to announce the anticipated annual reinvested distributions for its Harvest High Income Shares ETFs, specifically for the upcoming tax year of 2024. This initiative reflects Harvest's commitment to transparency and the ongoing support for its investors.
Understanding Reinvested Distributions
These distributions are estimates as of the end of October 2024 and are subject to change. The reasons for potential fluctuations include market dynamics, shifts in income earned, and any unit subscriptions or redemptions that may occur prior to the ex-dividend date. Each Harvest High Income Shares ETF must distribute any income and capital gains it earns during the year.
What Are Reinvested Distributions?
In this framework, the annual distributions will not be issued in cash. Instead, they will be reinvested immediately, maintaining the total number of units each unitholder holds unchanged. This means the net asset value of the ETFs remains steady despite these non-cash distributions. Taxable amounts, including distinguishing between income and capital gains, will be communicated to brokers through CDS Clearing and Depository Services Inc. early in 2025.
Key Dates and Information
Harvest ETFs plans to provide an updated estimate of the year-end reinvested distribution amounts around December 23, 2024. Note that the ex-dividend date for the 2024 annual reinvested distributions is set for December 31, 2024, aimed at all unitholders recorded on that date.
Estimated Distribution Details
The detailed breakdown of the estimates regarding the annual reinvested distributions does not encompass ongoing cash distributions that are announced separately. This fiscal approach allows Harvest to facilitate long-term investor benefits.
Diverse Fund Offerings
Harvest offers a spectrum of ETFs designed for various investor needs. The recent launch of Harvest High Income Shares ETFs marks a significant addition, aiming to deliver high monthly cash distributions coupled with potential long-term growth through direct stock ownership. This strategy caters to the growing demand for income-generating investments.
Investment Philosophy at Harvest
Founded in 2009, Harvest has developed an independent approach to asset management, handling around $5.2 billion for Canadian investors. Their philosophy centers on the long-term ownership of quality businesses, paired with innovative investment strategies, including covered call techniques available in multiple forms: Equity, Enhanced, Fixed Income, and Balanced.
Investor Relations and Contacts
Harvest extends a warm invitation to all potential investors interested in subscribing to their monthly commentary newsletter. Staying informed about the latest market insights, analyses, and perspectives is just one click away on their website. For further inquiries, contact their dedicated support line.
Media and Corporate Inquiries
If you have any media inquiries, please reach out to Caroline Grimont, Vice President of Marketing. The professional team at Harvest is ready to assist with any questions or concerns regarding their offerings or the ETF market.
Frequently Asked Questions
1. What are Harvest's estimated reinvested distributions for 2024?
The exact figures are subject to change but are expected to be released by December 23, 2024, with reinvestment occurring without cash payouts.
2. How are the distributions communicated to investors?
Taxable amounts will be reported to brokers early in 2025, distinguishing between income and capital gains.
3. What is Harvest's overall investment strategy?
Harvest focuses on long-term ownership of high-quality investments and utilizes various strategies, including covered calls.
4. Where can investors find more information about Harvest ETFs?
Investors can explore more on Harvest's website, which details all available ETFs and their respective strategies.
5. How can I contact Harvest for further inquiries?
For inquiries, investors can call them toll free or email their support team for assistance.
