Harvest Announces Monthly Distribution Increase for Harvest Energy Leaders Plus Income ETF
OAKVILLE, ON, May 9, 2022 /CNW/ - Harvest Portfolios Group Inc. ("Harvest") announces a change to the monthly distribution amount from $0.0150 CAD per unit to $0.0250 CAD per unit for the Class A units of the Harvest Energy Leaders Plus Income ETF (TSX: HPF) and from $0.0150 USD per unit to $0.0250 USD per unit for the Class U units of the Harvest Energy Leaders Plus Income ETF (TSX: HPF.U). The new monthly distribution amount for both Class A units and Class U units, taking effect for the July 29, 2022 record date, represents a current annual yield of approximately 8.1% for Class A units and 6.9% for Class U units.
The change to the distribution amount is intended to provide a reasonable and sustainable distribution yield for unitholders of both the Class A and Class U units of the Harvest Energy Leaders Plus Income ETF while continuing to provide the opportunity for long-term capital appreciation through exposure to an equally weighted portfolio of 20 large global energy companies that engages an active call strategy to enhance the monthly distribution.
"With the strong up turn in traditional energy prices we have seen the profitability and hence dividends increase with many of the major Energy companies. These changes are providing a much more conducive environment to enhance distributions" says Michael Kovacs, President & CEO. "At Harvest, we understand the value of income for investors in the current interest rate environment and manage our Equity Income ETFs in order to pay sustainable and regular monthly distributions".
About Harvest Portfolios Group Inc. Founded in 2009, Harvest is a Canadian Investment Fund Manager managing $2.3 billion in assets for Canadian Investors. Harvest offers an innovative suite of exchange traded funds, mutual funds and publicly-listed structured fund products designed to satisfy the long-term growth and income needs of investors. We pride ourselves in creating trusted investment solutions that meet the expectations of our investors.
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SOURCE Harvest Portfolios Group Inc.
