Harvest ETFs Estimated Annual 2022 Reinvested Distributions
Harvest Portfolios Group Inc. ("Harvest") today announces the estimated annual reinvested distributions for Harvest ETFs for the 2022 tax year.
Please note these are estimated amounts only as of October 31, 2022 and could change due to events that occur between the date of these estimates and the date of the ETFs' taxation year end. These events may include market movements, portfolio turnover, change in the amount of income earned, and subscriptions or redemptions of units prior to the ex-dividend date.
Each of the Harvest ETFs is required to distribute any income and capital gains that they have earned during the year. The annual distributions will not be paid in cash but will be reinvested and immediately consolidated so that the number of units held by the unitholder, the units outstanding of the ETFs, and the net asset value of the ETFs will not change as a result of the non-cash distributions. The annual distributions will be reported as taxable distributions and result in an increase to each unitholder's adjusted cost base for the respective ETF. The actual taxable amounts and nature of distributions for the respective ETFs as either income or capital gains will be reported to brokers through CDS Clearing and Depository Services Inc. ("CDS") in early 2023.
Harvest expects to announce updated estimates of the year-end reinvested distribution amounts on or about December 22, 2022. The ex-dividend date for the 2022 annual reinvested distributions will be December 29, 2022 for all unitholders of record on December 30, 2022.
Details regarding the estimated annual reinvested distribution amounts are below. These amounts do not include any ongoing monthly or quarterly cash distributions which are disclosed separately.
1 For Class U units, amounts are in U.S. dollars. All other amounts are in Canadian dollars.
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You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment fund on the TSX. If the shares are purchased or sold on the TSX, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning shares of an investment fund. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. An investment fund must prepare disclosure documents that contain key information about the investment fund. You can find more detailed information about the investment fund in these documents.
Certain statements included in this communication constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Investment Fund. The forward-looking statements are not historical facts but reflect the Fund's, Harvest and the Manager of the Fund'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. Although the Fund, Harvest and the Manager of the Fund believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund, Harvest and the Manager of the Fund undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
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