Horizons announces July 2014 distributions for its Covered Call ETFs

TORONTO, July 23, 2014 /CNW/ - Horizons ETFs Management (Canada) Inc. and its affiliate AlphaPro Management Inc. (collectively "Horizons ETFs") are pleased to announce the distribution amounts per unit (the "Distributions") for certain of the Horizons ETFs family of exchange traded funds (the "ETFs"), for the period ending July 31, 2014, as indicated in the table below.

The ex-dividend date for the Distributions is anticipated to be July 29, 2014 for all unitholders of record on July 31, 2014.  The Distributions 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 August 13, 2014. 

⁽¹⁾  Based on the period June 19, 2014 to July 22, 2014, where the prior month's net asset value per unit is adjusted to include the prior month's distribution.
⁽²⁾  Annualized and based on the applicable July 22, 2014 net asset value per unit which is available at www.HorizonsETFs.com.
⁽³⁾  Annualized and based on the applicable June 19, 2014 net asset value per unit which is available at www.HorizonsETFs.com.
⁽⁴⁾ The absolute change of the prior month's previously announced annualized distribution yield to the current month's annualized distribution yield.
⁽⁵⁾  Distributions for Horizons Enhanced Income US Equity (USD) ETF are declared and paid in U.S. dollars, including those listed under the Canadian dollar traded tickers HEA and HEA.A.  The approximate Canadian dollar equivalent distribution rates for HEA and HEA.A are $0.05452 per unit and $0.04616 per unit, respectively. For unitholders who hold Canadian dollar traded HEA and HEA.A, distribution payments will typically be converted to Canadian dollars by the unitholder's account holder.

Each ETF does not have a fixed distribution but pays distributions monthly. Distribution rates are generally based on the average current volatility of the securities held by the ETF, along with any dividend income received, less expenses payable by the ETF. The amount of monthly cash distributions are expected to fluctuate from month to month and there can be no assurance that an ETF will make any distributions in any particular month or months. Monthly distributions will be paid in cash, unless the investor has chosen to participate in the ETF's reinvestment plan.

For further information regarding the Distributions please visit www.HorizonsETFs.com

Certain statements may constitute a forward looking statement, including those identified by the expression "expect" and similar expressions (including grammatical variations thereof) to the extent they relate to the ETFs. The forward-looking statements are not historical facts but reflect the ETFs, the ETF's managers or Horizons ETFs' 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. These and other factors should be considered carefully and readers should not place undue reliance on the ETF's forward looking statements. These forward-looking statements are made as of the date hereof and the ETFs do not undertake to update any forward-looking statement that is contained herein, whether as a result of new information, future events or otherwise, unless required by applicable law.

Commissions, trailing commissions, management fees and expenses all may be associated with investments in the ETFs. The ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus before investing.

About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)

Horizons ETFs Management (Canada) Inc. and its affiliate AlphaPro Management Inc. are innovative financial services companies offering the Horizons ETFs family of exchange-traded funds. The Horizons ETFs family includes a broadly diversified range of investment tools with solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. With approximately $4.1 billion in assets under management and 71 ETFs listed on the Toronto Stock Exchange, the Horizons ETFs family makes up one of the largest families of ETFs in Canada. Horizons ETFs Management (Canada) Inc. and AlphaPro Management Inc. are members of the Mirae Asset Financial Group.

SOURCE Horizons ETFs Management (Canada) Inc.