TORONTO, Nov. 20,
2023 /CNW/ - Dynamic Funds today announced a
non-cash distribution for Dynamic Active U.S. Equity ETF ("the
ETF") listed on the TSX Exchange. The non-cash distribution,
as presented in the table below, will be made to all
securityholders of record as at November 27, 2023 payable on
November 30, 2023.
The ETF was considered a "financial institution" for purposes of
the "mark-to-market" rules contained in the Income Tax Act
(Canada). The ETF ceased to be a
financial institution when not more than 50% of the ETF was held by
one or more financial institutions, which resulted in a deemed
year-end for tax purposes. Accordingly, the ETF is required to
distribute the net income earned and arising from the realization
of gains on mark-to-market property held by the ETF at such time to
securityholders.
The distribution will be paid in the form of additional units of
the ETF. 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 ETF will increase.
The tax characteristics of the distributions will be reported to
CDS Clearing and Depository Services Inc. in early 2024.
Securityholders can contact their brokerage firm for this
information.
The non-cash distribution amount per unit is:
|
Dynamic Active ETF
name
|
Ticker symbol
(TSX)
|
Non-cash
distribution per unit ($)
|
|
Dynamic Active U.S.
Equity ETF
|
DXUS
|
1.46336
|
For more information about these and the other Dynamic Active
ETFs, please visit Dynamic.ca/ETF.
Commissions, trailing commissions, management fees and expenses
may be associated with mutual fund investments, including
ETFs. Please read the prospectus before investing. Mutual
funds and ETFs are not guaranteed, their values change frequently
and past performance may not be repeated.
About Dynamic Funds
Dynamic Funds is a division of 1832 Asset Management L.P., which
offers a range of wealth management solutions, including mutual
funds, actively managed ETFs, and investment solutions for private
clients, institutional clients and managed asset programs. 1832
Asset Management L.P. is a limited partnership, the general partner
of which is wholly owned by Scotiabank. Dynamic Funds® is a
registered trademark of The Bank of Nova
Scotia, used under license by, and is a division of, 1832
Asset Management L.P.
© Copyright 2023 The Bank of Nova Scotia. All rights
reserved.
Website: www.dynamic.ca | X (formerly
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SOURCE Dynamic Funds
