News Releases

TORONTO, Dec. 29, 2023 /CNW/ - BMO Asset Management Inc., as manager of the BMO ETFs, today announced a special reinvested distribution for unitholders of BMO NASDAQ 100 Equity Hedged to CAD Index ETF (ZQQ) and BMO MSCI Canada Value Index ETF (ZVC).

The reinvested distributions for BMO NASDAQ 100 Equity Hedged to CAD Index ETF (ZQQ) and BMO MSCI Canada Value Index ETF (ZVC) generally represent net realized capital gains and net income. They are not paid in cash but are reinvested in additional units of the relevant BMO ETF at a price equal to the net asset value per unit of the BMO ETF. 

Non-resident unitholders may have the number of additional units of the relevant BMO ETF reduced because of withholding tax. The additional units will be immediately consolidated with the previously outstanding units such that the number of outstanding units following the distribution will be equal the number of units outstanding prior to the distribution. Reinvested distributions will increase the unitholder's adjusted cost base for BMO NASDAQ 100 Equity Hedged to CAD Index ETF (ZQQ) and BMO MSCI Canada Value Index ETF (ZVC), as applicable.

Unitholders of record of ZQQ and ZVC at the close of business on December 29, 2023, will receive the special reinvested distribution. The actual taxable amount of the special reinvested distribution, including its tax characteristic, will be reported to brokers through CDS Clearing and Depository Services Inc. (CDS) in early 2024.

The special reinvested distribution amounts per unit of BMO NASDAQ 100 Equity Hedged to CAD Index ETF (ZQQ) and BMO MSCI Canada Value Index ETF (ZVC) are as follows:

Further information about BMO ETFs can be found at www.bmo.com/etfs.

Commissions, management fees and expenses all may be associated with investments in BMO ETFs. Please read the ETF facts or prospectus of the relevant BMO ETF before investing.  BMO ETFs 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, please see the specific risks set out in the prospectus.  BMO ETFs 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.

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 of net income and net taxable gains of a BMO ETF will be included in the unitholder's income for tax purposes in the year they are paid, whether or not such amounts are reinvested in additional units. A unitholder's adjusted cost base will be reduced by the amount of any returns of capital. If a unitholder's adjusted cost base goes below zero, such unitholder will have to pay capital gains tax on the amount below zero. Please refer to the summary of the principal income tax considerations set out in the prospectus for the relevant BMO ETF. Investors should also consult their own tax advisors about their individual circumstances. 

Nasdaq® is a registered trademark of Nasdaq, Inc. (which with its affiliates is referred to as the "Corporations") and is licensed for use by BMO Asset Management Inc., the manager of the BMO ETFs. BMO NASDAQ 100 Equity Hedged to CAD Index ETF (ZQQ) has not been passed on by the Corporations as to its legality or suitability. ZQQ is not issued, endorsed, sold, or promoted by the Corporations. The Corporations make no warranties and bear no liability with respect to ZQQ.

BMO MSCI Canada Value Index ETF (ZVC) is not sponsored, endorsed, or promoted by MSCI and MSCI bears no liability with respect to ZVC or any index on which such exchange traded fund is based. ZVC's prospectus contains a more detailed description of the limited relationship MSCI has with BMO Asset Management Inc., as manager, 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 $1.3 trillion as of October 31, 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 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