IPOS - Quadravest Announces the Launch of Quadravest Preferred Split Share ETF | Benzinga
TSX SYMBOLS: PREF, INC.UN, FTN, FTN.PR.A, DFN, DFN.PR.A, DF, DF.PR.A, FFN, FFN.PR.A, FTU, FTU.PR.B, LFE, LFE.PR.B, PDV, PDV.PR.A, BK, BK.PR.A, YCM, YCM.PR.A, YCM.PR.B, XFM.A, XMF.PR.B, XMF.PR.C, XTD, XTD.PR.A, DS
TORONTO, June 26, 2024 (GLOBE NEWSWIRE) -- Quadravest Capital Management Inc. (the "Manager') is pleased to announce that Quadravest Preferred Split Share ETF ("Preferred ETF") will commence trading on the Toronto Stock Exchange (the "TSX") on June 27, 2024 under the symbol PREF. A final prospectus dated June 7, 2024 has been filed with the securities regulatory authorities in each province and territory in Canada.
The investment objectives of Preferred ETF are to provide unitholders with: (a) monthly distributions and (b) the opportunity for capital preservation, primarily through a portfolio of preferred shares of split share corporations.
Preferred ETF will seek to achieve its investment objectives by investing in an actively managed portfolio of split corp. preferred shares offered by Canadian split share corporations listed on a Canadian exchange. The Preferred ETF may also invest in preferred shares of other issuers, exchange-traded funds, other investment funds, equities or income-generating securities, and securities that are convertible into any of the above noted securities provided such investments are consistent with the Preferred ETF's investment objectives.
The manager is pleased to announce the initial monthly distribution as follows:
Amount Per Unit: $0.05417 CAD
Record Date: July 31, 2024
Payment Date: August 9, 2024
The monthly distribution per unit represents a total of $0.65 annualized based on the initial issue price of $10.00.
Distributions, ...