TORONTO, June 4, 2019 /CNW/ - Scotia Global Asset
Management today announced a non-cash distribution for the Scotia
Strategic Fixed Income ETF Portfolio listed on the TSX. The
non-cash distribution, as presented in the table below, will be
made to all securityholders of record as at May 31, 2019, payable on June 7, 2019.
The portfolio was considered a "financial institution" for
purposes of the "mark-to-market" rules contained in the Income
Tax Act (Canada). The
portfolio ceased to be a financial institution when not more than
50% of the portfolio was held by one or more financial institutions
which resulted in a deemed year-end for tax purposes. Accordingly,
the portfolio is required to distribute the net income earned and
arising from the realization of gains on mark-to-market property
held by the portfolio at such time to securityholders.
The distribution will be paid in the form of additional units of
the portfolio. 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. Accordingly, each securityholder's aggregate
adjusted cost base of units of the portfolio will increase. This
non-cash distribution does not include the regular monthly cash
distributions paid by the portfolio.
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 non-cash distribution amount per unit is:
Scotia Strategic
ETF Portfolio name
|
Ticker symbol
(TSX)
|
Non-cash
distribution
per unit ($)
|
Scotia Strategic
Fixed Income ETF Portfolio
|
SFIX
|
0.850
|
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 Canada's international bank and a leading
financial services provider in the Americas. We are dedicated to
helping our more than 25 million customers become better off
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 99,000 employees and assets of over
$1 trillion (as at April 30, 2019), Scotiabank trades on the Toronto
Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS).
For more information, please visit www.scotiabank.com and follow us
on Twitter @ScotiabankViews.
SOURCE Scotiabank