Scotia Global Asset Management announces non-cash distribution for Scotia Strategic Canadian Equity ETF Portfolio

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Scotia Global Asset Management announces non-cash distribution for Scotia Strategic Canadian Equity ETF Portfolio

Canada NewsWire

TORONTO, Oct. 1, 2019 /CNW/ - Scotia Global Asset Management today announced a non-cash distribution for the Scotia Strategic Canadian Equity 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 September 30, 2019, payable on October 4, 2019.

Scotiabank (CNW Group/Scotiabank)

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 Canadian Equity ETF Portfolio

SCAD

0.836

 

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 100,000 employees and assets of over $1 trillion (as at July 31, 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

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2019/01/c3796.html

Copyright CNW Group 2019

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).