Harvest Portfolios Group Inc. (“Harvest”) announces an increase to the monthly distribution amount from $0.1000 CAD per unit to $0.1200 CAD per unit for the Class A units of the Harvest Tech Achievers Growth & Income ETF (HTA:TSX), from $0.1000 USD per unit to $0.1200 USD per unit for the Class U units of the Harvest Tech Achievers Growth & Income ETF (HTA.U:TSX) and from $0.1000 CAD per unit to $0.1200 CAD per unit for the Class B units of the Harvest Tech Achievers Growth & Income ETF (HTA.B:TSX). The new monthly distribution amount for both Class A units, Class U units and Class B units, taking effect for the September 29, 2023 record date, represents a current annual yield of approximately 9.4% for Class A units, 8.8% for Class U units and 9.1% for Class B units.
The change to the distribution amount is intended to provide a reasonable and sustainable distribution yield for unitholders of the Class A, Class U and Class B units of the Harvest Tech Achievers Growth & Income ETF while continuing to provide the opportunity for long-term capital appreciation through exposure to an equally weighted portfolio of 20 large-cap Technology companies that is diversified across the global technology sectors that also engages an active call strategy to enhance the monthly distribution.
The Harvest Tech Achievers Growth & Income ETF was named a Refinitiv Lipper Fund Awards Canada 2022 Winner, Best Sector Equity Fund over 3 years (Class A) and 5 years (Class U).
Harvest also announces an increase to the monthly distribution amount from $0.1063 CAD per unit to $0.1300 CAD per unit for the Class A units of the Harvest Tech Achievers Enhanced Income ETF (HTAE:TSX). The new monthly distribution amount for the Class A units will take effect for the September 29, 2023 record date representing a current annual yield of approximately 11.5%.
The change to the distribution amount is intended to provide a reasonable and sustainable distribution yield for unitholders of the Class A units of the Harvest Tech Achievers Enhanced Income ETF while investing, on a levered basis, in the Harvest Tech Achievers Growth & Income ETF (HTA:TSX).
“At Harvest ETFs, we understand the value of income for investors in a high inflation environment and manage our Equity Income ETFs in order to pay sustainable and regular monthly distributions,” says Michael Kovacs, President & CEO.
Harvest has established a Distribution Reinvestment Plan (“DRIP”) for all three classes (HTA:TSX, HTA.U:TSX and HTA.B:TSX) of Harvest Tech Achievers Growth & Income ETF and for Class A units of Harvest Tech Achievers Enhanced Income ETF (HTAE:TSX), allowing investors to easily benefit from compounding their distributions on a monthly basis. Each are listed on the Toronto Stock Exchange (TSX) and are eligible for the Distribution Reinvestment Plan, provided that their investment dealer supports participation in the DRIP. Investors may opt into the DRIP by contacting their investment dealer, otherwise distributions will be paid in cash.
For additional information: Please visit www.harvestportfolios.com, e-mail info@harvestetfs.com or call toll free 1-866-998-8298.
About Harvest Portfolios Group Inc.
Founded in 2009, Harvest is an independent Canadian Investment Fund Manager managing $3.6 billion in assets for Canadian Investors. At Harvest ETFs, our guiding principles are premised on building wealth for our clients through ownership of strong businesses that have the potential to grow & generate steady income over time. Harvest ETFs 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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