Stock Name: HES.UN
Amount: CAD 0.1324
Announcement Date: 21/09/2011
Record Date: 28/09/2011
Dividend Detail:
TORONTO, Sept. 21, 2011 /CNW/ - Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. are pleased to announce
the monthly distribution of the Horizons Enhanced U.S. Equity Income
Fund (the "Fund") for September 2011 in the amount of $0.13237 per Class A unit of the
Fund. The Class A units of the Fund are listed for trading on the
Toronto Stock Exchange ("TSX") under the symbol HES.UN.
The distribution represents a 16.11% annualized yield on the Fund's
initial public offering price of $10.00 per Class A unit. The September
distribution ex-dividend date is anticipated to be September 28, 2011,
for all Class A unitholders of record on September 30, 2011. The
distribution is payable on October 13, 2011.
The Fund's investment objectives are to provide holders of units with:
(a) the performance of an equal weighted portfolio of equity securities
of large capitalization U.S. companies; (b) the opportunity for capital
appreciation; (c) monthly distributions; and (d) lower overall
volatility of portfolio returns than would be experienced by owning the
Fund's equity portfolio without employing a covered call option
strategy. To mitigate the downside risks associated with holding the
Fund's equity portfolio, generate cashflow and allow for potential
capital appreciation, the Fund generally writes short-term,
"out-of-the-money" covered call options on 100% of its equity
securities. The level of covered call option writing may vary based on
market volatility and other factors. The Fund generally seeks to hedge
substantially all of its exposure to the U.S. dollar back to the
Canadian dollar.
About Horizons Exchange Traded Funds Inc. (www.horizonsetfs.com)
Horizons ETFs is an innovative financial services company offering the
Horizons ETFs family of exchange traded funds. The Horizons ETFs family
includes a broadly diversified range of investment tools with solutions
for investors of all experience levels to meet their investment
objectives in a variety of market conditions. With approximately $3.3
billion in assets under management and more than 70 listings on the
Toronto Stock Exchange, the Horizons ETFs family makes up the largest
selection of ETFs in Canada. Horizons ETFs is a member of the Jovian
Capital Corporation (TSX: JOV) group of companies.
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