Mr. Martin Fabregas reports
HORIZONS ETFS ANNOUNCES FEBRUARY 2020 DISTRIBUTIONS FOR CERTAIN ETFS
Horizons ETFs Management (Canada) Inc. has declared the distribution amounts for certain of its exchange-traded funds (ETFs) for the period ending Feb. 29, 2020, as indicated in the attached table.
The ex dividend date for the distributions is anticipated to be Feb. 27, 2020, for all unitholders of record on Feb. 28, 2020. The distributions for the units of each ETF will be paid in cash or, if the unitholder has enrolled in the respective ETF's dividend reinvestment plan (DRIP), reinvested in additional units of the applicable ETF, on or about March 11, 2020.
Horizons ETFs has made an additional announcement regarding the February distributions for its family of covered call ETFs in a separate news release.
ETF name Ticker symbol Distribution per unit Annualized yield* Frequency
Horizons Active Corporate Bond ETF HAB $0.02803 2.99% Monthly
Horizons Active Cdn Bond ETF HAD $0.01866 2.12% Monthly
Horizons Active Global Fixed Income ETF HAF $0.01950 3.02% Monthly
Horizons Active Emerging Markets Bond ETF HEMB $0.03441 4.07% Monthly
Horizons Active Floating Rate Preferred Share ETF HFP $0.03192 4.73% Monthly
Horizons Active Ultra-Short Term HFR $0.02180 2.59% Monthly
Investment Grade Bond ETF
(formerly Horizons Active Floating Rate Bond ETF)
Horizons Active Cdn Municipal Bond ETF HMP $0.01849 2.23% Monthly
Horizons Active Preferred Share ETF HPR $0.03247 4.76% Monthly
Horizons Active Floating Rate Senior Loan ETF HSL $0.02711 3.42% Monthly
Horizons Active Ultra-Short Term U.S. HUF.U $0.02330 2.75% Monthly
Investment Grade Bond ETF (1) (formerly HUF $0.02330 2.75% Monthly
Horizons Active U.S. Floating Rate Bond (USD) ETF)
Horizons Active High Yield Bond ETF HYI $0.04852 5.96% Monthly
* Based on the applicable Feb. 20, 2020, net asset value per unit, which is available on the Horizons ETFs
Management website.
(1) Distributions for the Horizons Active Ultra-Short Term U.S. Investment Grade Bond ETF are declared and paid in
U.S. dollars, including those listed under the Canadian dollar-traded ticker HUF. The approximate
Canadian-dollar-equivalent distribution rate for HUF is 3.090 cents per unit. For unitholders who hold the
Canadian-dollar-traded HUF, distribution payments will typically be converted to Canadian dollars by the
unitholders' accountholders.
Distributions for the ETFs will vary from period to period. For further information regarding the distributions, please visit
the Horizons ETFs Management website.
In addition to the regular monthly cash distributions declared in the attached table, Horizons ETFs Management anticipates that the Horizons Emerging Marijuana Growers Index ETF (HMJR) will require a reinvested non-cash distribution of income prior to its merger into the Horizons U.S. Marijuana Index ETF (HMUS), which is expected to occur after the close of business on Feb. 28, 2020. The merger proposal was approved at a meeting of unitholders of Horizons Emerging Marijuana Growers on
Feb. 19, 2020
.
Horizons ETFs estimates that the non-cash distribution of income to Horizons Emerging Marijuana Growers unitholders will be approximately 1.2 cents per unit. A news release confirming the final distribution rate will be disseminated on or about the date of the merger. The final non-cash distribution will not be paid in cash but will be reinvested and reported as taxable distributions and will be used to increase each unitholder's adjusted cost base for Horizons Emerging Marijuana Growers immediately prior to the merger. The ex dividend date for this distribution is anticipated to be Feb. 27, 2020, for all unitholders of record on Feb. 28, 2020. The nominal payment date applied to this non-cash distributions will also be Feb. 28, 2020, though in actuality there will be no physical payment made as would be the case with cash distributions.
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