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      News Releases

      BMO Announces Cash Distributions for Certain BMO ETFs and ETF Series of BMO Mutual Funds for July 2023

      TORONTO, July 20, 2023 /CNW/ - BMO Asset Management Inc., as manager of the BMO ETFs, and BMO Investments Inc., as manager of the BMO Mutual Funds, today announced the July 2023 cash distributions for unitholders of BMO ETFs and unitholders of ETF Series units of the BMO Mutual Funds (ETF Series), as set out in the table below. Unitholders of record of the BMO ETFs and ETF Series at the close of business on July 28, 2023 will receive cash distributions payable on August 2, 2023. 

      Unitholders of record of ETF Series of BMO Money Market Fund (TSX: ZMMK) at the close of business on July 27, 2023 will receive cash distributions payable on August 2, 2023.

      The ex-dividend date and record date for ZMMK is July 27, 2023.

      Details of the per unit cash distribution amount are as follows:

       FUND NAME

      FUND TICKER

      CASH
      DISTRIBUTION
      PER UNIT

      BMO Aggregate Bond Index ETF

      ZAG

      $0.040

      BMO Canadian MBS Index ETF

      ZMBS

      $0.035

      BMO Discount Bond Index ETF

      ZDB

      $0.030

      BMO Emerging Markets Bond Hedged to CAD Index ETF

      ZEF

      $0.045

      BMO Equal Weight Banks Index ETF

      ZEB

      $0.140

      BMO Equal Weight REITs Index ETF

      ZRE

      $0.090

      BMO Equal Weight Utilities Index ETF

      ZUT

      $0.075

      BMO ESG High Yield US Corporate Bond Index ETF

      ESGH

      $0.120

      BMO ESG High Yield US Corporate Bond Index ETF (Hedged Units)

      ESGH.F

      $0.110

      BMO High Yield US Corporate Bond Hedged to CAD Index ETF

      ZHY

      $0.060

      BMO High Yield US Corporate Bond Index ETF

      ZJK

      $0.090

      BMO High Yield US Corporate Bond Index ETF (USD Units)*

      ZJK.U

      $0.085

      BMO Laddered Preferred Share Index ETF

      ZPR

      $0.045

      BMO Long Corporate Bond Index ETF

      ZLC

      $0.065

      BMO Long Federal Bond Index ETF

      ZFL

      $0.040

      BMO Long Provincial Bond Index ETF

      ZPL

      $0.045

      BMO Mid Corporate Bond Index ETF

      ZCM

      $0.050

      BMO Mid Federal Bond Index ETF

      ZFM

      $0.028

      BMO Mid Provincial Bond Index ETF

      ZMP

      $0.034

      BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF

      ZMU

      $0.045

      BMO Mid-Term US IG Corporate Bond Index ETF

      ZIC

      $0.055

      BMO Mid-Term US IG Corporate Bond Index ETF (USD Units)*

      ZIC.U

      $0.042

      BMO Real Return Bond Index ETF

      ZRR

      $0.080

      BMO Short Corporate Bond Index ETF

      ZCS

      $0.038

      BMO Short Federal Bond Index ETF

      ZFS

      $0.022

      BMO Short Provincial Bond Index ETF

      ZPS

      $0.030

      BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF

      ZSU

      $0.035

      BMO US Aggregate Bond Index ETF

      ZUAG

      $0.050

      BMO US Aggregate Bond Index ETF (Hedged Units)

      ZUAG.F

      $0.050

      BMO US Aggregate Bond Index ETF (USD Units)*

      ZUAG.U

      $0.050

      BMO US Preferred Share Hedged to CAD Index ETF

      ZHP

      $0.105

      BMO US Preferred Share Index ETF

      ZUP

      $0.105

      BMO US Preferred Share Index ETF (USD Units)*

      ZUP.U

      $0.105

      BMO Balanced ETF (Fixed Percentage Distribution Units)

      ZBAL.T

      $0.135

      BMO Canadian Dividend ETF

      ZDV

      $0.070

      BMO Canadian High Dividend Covered Call ETF

      ZWC

      $0.110

      BMO Covered Call Canadian Banks ETF

      ZWB

      $0.110

      BMO Covered Call Canadian Banks ETF (USD Units)*

      ZWB.U

      $0.140

      BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF

      ZWA

      $0.130

      BMO Covered Call Energy ETF

      ZWEN

      $0.210

      BMO Covered Call Health Care ETF

      ZWHC

      $0.160

      BMO Covered Call Technology ETF

      ZWT

      $0.110

      BMO Covered Call US Banks ETF

      ZWK

      $0.170

      BMO Covered Call Utilities ETF

      ZWU

      $0.070

      BMO Europe High Dividend Covered Call ETF

      ZWP

      $0.105

      BMO Europe High Dividend Covered Call Hedged to CAD ETF

      ZWE

      $0.120

      BMO Floating Rate High Yield ETF

      ZFH

      $0.105

      BMO Global High Dividend Covered Call ETF

      ZWG

      $0.175

      BMO Growth ETF (Fixed Percentage Distribution Units)

      ZGRO.T

      $0.150

      BMO International Dividend ETF

      ZDI

      $0.080

      BMO International Dividend Hedged to CAD ETF

      ZDH

      $0.090

      BMO Laddered Preferred Share Index ETF (USD Units)*

      ZPR.U

      $0.075

      BMO Monthly Income ETF

      ZMI

      $0.070

      BMO Monthly Income ETF (USD Units)*

      ZMI.U

      $0.110

      BMO Premium Yield ETF

      ZPAY

      $0.160

      BMO Premium Yield ETF (Hedged Units)

      ZPAY.F

      $0.155

      BMO Premium Yield ETF (USD Units)*

      ZPAY.U

      $0.160

      BMO Ultra Short-Term Bond ETF

      ZST

      $0.190

      BMO Ultra Short-Term US Bond ETF (USD Units)*

      ZUS.U

      $0.190

      BMO US Dividend ETF

      ZDY

      $0.080

      BMO US Dividend ETF (USD Units)*

      ZDY.U

      $0.060

      BMO US Dividend Hedged to CAD ETF

      ZUD

      $0.055

      BMO US High Dividend Covered Call ETF

      ZWH

      $0.100

      BMO US High Dividend Covered Call ETF (USD Units)*

      ZWH.U

      $0.105

      BMO US High Dividend Covered Call Hedged to CAD ETF

      ZWS

      $0.090

      BMO US Put Write ETF

      ZPW

      $0.095

      BMO US Put Write ETF (USD Units)*

      ZPW.U

      $0.095

      BMO US Put Write Hedged to CAD ETF

      ZPH

      $0.100

      BMO Global Enhanced Income Fund (ETF Series)

      ZWQT

      $0.085

      BMO Global REIT Fund (Active ETF Series)

      BGRT

      $0.040

      BMO Money Market Fund (ETF Series)

      ZMMK

      $0.205

      *Cash distribution per unit ($) amounts are USD for ZJK.U, ZIC.U, ZUAG.U, ZUP.U, ZWB.U, ZPR.U, ZMI.U, ZPAY.U, ZUS.U, ZDY.U, ZWH.U, and ZPW.U.

      Further information about BMO ETFs and ETF Series of the BMO Mutual Funds can be found at www.bmo.com/etfs.

      Commissions, management fees and expenses all may be associated with investments in BMO ETFs and ETF Series of the BMO Mutual Funds. Please read the ETF facts or prospectus of the relevant BMO ETF or ETF Series before investing.  BMO ETFs and ETF Series are not guaranteed, their values change frequently, and past performance may not be repeated.

      For a summary of the risks of an investment in the BMO ETFs or ETF Series of the BMO Mutual Funds, please see the specific risks set out in the prospectus.  BMO ETFs and ETF Series trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. 

      BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal. ETF Series of the BMO Mutual Funds are managed by BMO Investments Inc., which is an investment fund manager and a separate legal entity from Bank of Montreal.

      Distributions are not guaranteed and may fluctuate. Distribution rates may change without notice (up or down) depending on market conditions. The payment of distributions should not be confused with an investment fund's performance, rate of return or yield. If distributions paid by an investment fund are greater than the performance of the fund, your original investment will shrink. Distributions paid as a result of capital gains realized by an investment fund, and income and dividends earned by an investment fund, are taxable in your hands in the year they are paid. Your adjusted cost base will be reduced by the amount of any returns of capital. If your adjusted cost base goes below zero, you will have to pay capital gains tax on the amount below zero. Please refer to the distribution policy for the relevant BMO ETF or ETF Series set out in its prospectus.

      Cash distributions, if any, on units of a BMO ETF or an ETF Series (other than accumulating units or units subject to a distribution reinvestment plan) are expected to be paid primarily out of dividends or distributions, and other income or gains, received by the BMO ETF or ETF Series less the expenses of the BMO ETF or ETF Series, but may also consist of non-taxable amounts including returns of capital, which may be paid in the manager's sole discretion. To the extent that the expenses of a BMO ETF or an ETF Series exceed the income generated by such BMO ETF or ETF Series in any given month, quarter or year, as the case may be, it is not expected that a monthly, quarterly, or annual distribution will be paid. Distributions, if any, in respect of the accumulating units of BMO Short Corporate Bond Index ETF, BMO Short Federal Bond Index ETF, BMO Short Provincial Bond Index ETF, BMO Ultra Short-Term Bond ETF and BMO Ultra Short-Term US Bond ETF will be automatically reinvested in additional accumulating units of the applicable BMO ETF. Following each distribution, the number of accumulating units of the applicable BMO ETF or ETF Series will be immediately consolidated so that the number of outstanding accumulating units of the applicable BMO ETF or ETF Series will be the same as the number of outstanding accumulating units before the distribution. Non-resident unitholders may have the number of securities reduced due to withholding tax. Certain BMO ETFs and ETF Series have adopted a distribution reinvestment plan, which provides that a unitholder may elect to automatically reinvest all cash distributions paid on units held by that unitholder in additional units of the applicable BMO ETF or ETF Series in accordance with the terms of the distribution reinvestment plan. For further information, see the distribution policy for the relevant BMO ETF or ETF Series set out in its prospectus.

       Certain indices are a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI"),and have been licensed for use by BMO Asset Management Inc. S&P®, S&P 500®, US 500, The 500, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates ("S&P") and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"), and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by the manager. These BMO Index ETFs are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the relevant index.

      The BMO ETFs or securities referred to herein are not sponsored, endorsed or promoted by MSCI Inc. ("MSCI"), and MSCI bears no liability with respect to any such BMO ETFs or securities or any index on which such BMO ETFs or securities are based. The prospectus of the BMO ETFs contains a more detailed description of the limited relationship MSCI has with BMO Asset Management Inc. and any related BMO ETFs.

      ®/™Registered trademarks/trademark of Bank of Montreal, used under licence.

      About BMO Exchange Traded Funds (ETFs)
      BMO Exchange Traded Funds has been an ETF provider in Canada for more than 12 years, with over 100 strategies, over 25 per cent market share in Canada1, and $87.6 billion in assets under management. BMO ETFs are designed to stay ahead of market trends and provide compelling solutions to help advisors and investors. This includes a comprehensive suite of ETFs developed in Canada for Canadians, such as cost effective core equity ETFs following market leading indexes, and a broad range of fixed income ETFs; solution-based ETFs responding to client demand; and innovation with smart beta ETFs, as well as combining active and passive investing with ETF series of active mutual funds.

      1Morningstar, December 2022

      About BMO Financial Group
       BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.25 trillion as of April 30, 2023. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to over 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future and inclusive society.

      SOURCE BMO Financial Group

      For further information: Media Contacts: Jeff Roman, Toronto, Jeff.Roman@bmo.com, (416) 867-3996