Harvest ETFs Unveils New Reinvestment Plans for 2024

Harvest ETFs Announces New Distribution Strategy for 2024

Harvest Portfolios Group Inc. (“Harvest”) has recently shared its revised estimated annual reinvested distributions for Harvest ETFs for the upcoming tax year. This announcement signifies an important update for investors who hold these ETFs. The revised estimated distributions replace previous amounts shared in earlier communications, ensuring that all stakeholders are aligned with the latest information.

Understanding the Distribution Process

It is crucial for investors to recognize that these estimated distribution figures are subject to change. Final amounts will hinge on fluctuations in unit subscriptions or redemptions occurring before the ex-dividend date. Under the mandates applicable to each of the Harvest ETFs, any earned income and capital gains throughout the operating year must be distributed appropriately. However, these annual distributions will be reinvested rather than paid out in cash. This mechanism ensures stability in units held by unitholders while simultaneously maintaining the total units outstanding and the ETFs' net asset value.

Tax Implications of Reinvested Distributions

Reinvested distributions have specific tax implications. They are reported as taxable distributions in early 2025, which will also influence the adjusted cost base for the respective ETF. Investors should prepare for varying types of distributions classified as either income or capital gains, as reported to brokers through established channels.

Timeline for Final Distributions and Ex-Dividend Date

Looking ahead, Harvest anticipates announcing the final year-end reinvested distribution amounts on or around the end of the year. The ex-dividend date for all distributions linked to the 2024 tax year will occur on December 31. Any unitholders on record on that significant date will receive the updated distributions.

Detailed Breakdown of Reinvested Distribution Amounts

Harvest has provided detailed figures regarding the estimated annual reinvested distribution amounts, which do not account for any ongoing monthly cash distributions that are separately disclosed. This information is vital for investors to track their expected returns and adjust their financial strategies accordingly.

Contacting Harvest for More Information

For those seeking additional insights regarding these updates, Harvest encourages direct engagement via their website, where extensive resources are available to clarify any investment-related queries. Investors can also reach out through designated email contacts or phone support, ensuring they have the necessary support to navigate their investments effectively.

About Harvest Portfolios Group Inc.

Founded in 2009, Harvest stands out as an independent Canadian Investment Fund Manager, currently managing a robust portfolio worth $5.3 billion. The firm's philosophy emphasizes the importance of long-term wealth-building through high-quality business ownership. This approach reflects their offerings centered around diversified strategies, including covered calls in various forms: Equity, Enhanced, Fixed Income, and Balanced. A recent launch has introduced the Harvest High Income Shares ETFs, capitalizing on the ongoing trends in generating cash distributions while fostering growth.

Frequently Asked Questions

What are the revised estimated distributions for the Harvest ETFs in 2024?

The revised estimated distributions will be released and can vary based on market activity, so investors should stay updated through Harvest's communications.

When will the final distribution amounts be announced?

Harvest plans to announce the final year-end reinvested distribution amounts around the end of the year.

How will these distributions affect my taxes?

The reinvested distributions will be reported as taxable, impacting your adjusted cost base for the respective ETF.

How can I contact Harvest for more information?

You can visit their website or use provided email and phone contact details for any inquiries.

What is the focus of Harvest’s investment strategy?

Harvest focuses on long-term wealth creation through high-quality business ownership and offers various ETFs designed to suit different investment needs.

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