TORONTO, Dec. 30, 2019 /CNW/ - Scotia Global Asset Management today announced the final year-end reinvested distributions for the Scotia Strategic ETF Portfolios listed on the TSX for the 2019 tax year. The record date for the 2019 final year-end reinvested distributions will be December 31, 2019, payable on January 6, 2020.
These are final year-end distributions of undistributed net income and/or capital gains. The distributions will be reinvested in additional units of the respective Scotia Strategic ETF Portfolios and do not include any cash distribution amounts for December. The additional units will be immediately consolidated so that the number of units outstanding following the distribution will equal the number of units outstanding prior to the distribution.
Scotia Strategic U.S. Equity ETF Portfolio and Scotia Strategic International Equity ETF Portfolio are each considered a "financial institution" for purposes of the "mark-to-market" rules contained in the Income Tax Act (Canada). It is expected that these portfolios will cease to be financial institutions on December 31, 2019, when, not more than 50% of each portfolio will be held by one or more financial institutions.
The actual taxable amounts of reinvested distributions for 2019, including the tax characteristics of the distributions, will be reported to CDS Clearing and Depository Services Inc. in early 2020. Securityholders can contact their brokerage firm for this information.
The final reinvested distribution amounts per unit are:
Scotia Strategic ETF Portfolio name
Ticker symbol (TSX)
Final reinvested distribution per unit ($)
Scotia Strategic Canadian Equity ETF Portfolio
Scotia Strategic U.S. Equity ETF Portfolio
Scotia Strategic International Equity ETF Portfolio
Scotia Strategic Fixed Income ETF Portfolio
Please note that these distribution amounts are based on information available as of December 24, 2019 and may differ from the actual distribution amounts for the taxation year ending on December 31, 2019. We expect to announce revised final distribution amounts on January 3, 2020 if the actual distribution amounts materially differ from the distribution amounts set forth in this notice.
For more information on the Scotia Strategic ETF Portfolios, please visit scotiabank.com/ETF.
Commissions, management fees and expenses all may be associated with investments in exchange-traded funds (ETFs). Please read the prospectus before investing. The securities held by the ETFs can change at any time without notice. Investments in ETFs are not guaranteed, their values change frequently and past performance may not be repeated.
About Scotia Global Asset Management Scotia Global Asset Management is a business name used by 1832 Asset Management L.P., a limited partnership, the general partner of which is wholly owned by Scotiabank. Scotia Global Asset Management offers a range of wealth management solutions, including mutual funds, and investment solutions for private clients, institutional clients and managed asset programs.
About Scotiabank Scotiabank is a leading bank in Canada and a leading financial services provider in the Americas. We are here for every future. We help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 100,000 employees and assets of over $1 trillion (as at October 31, 2019), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.
For further information: For media enquiries, please contact: Alex Mathias, Global Wealth Management Communications, Scotiabank, [email protected], 416-448-7044
About Scotiabank Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial...