BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) to Issue Dividend Increase – $0.17 Per Share

BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) announced a monthly dividend on Thursday, July 30th, TickerTech Dividends reports. Stockholders of record on Wednesday, August 5th will be given a dividend of 0.17 per share on Wednesday, August 5th. This represents a c) annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Thursday, July 30th. This is a 13.3% increase from BMO Covered Call Canadian Banks ETF (ZWB.TO)’s previous monthly dividend of $0.15.

BMO Covered Call Canadian Banks ETF (ZWB.TO) Trading Down 3.1%

Shares of BMO Covered Call Canadian Banks ETF (ZWB.TO) stock opened at C$30.76 on Thursday. BMO Covered Call Canadian Banks ETF has a 12-month low of C$20.72 and a 12-month high of C$32.24. The company has a 50-day simple moving average of C$30.36 and a 200 day simple moving average of C$27.60.

BMO Covered Call Canadian Banks ETF (ZWB.TO) Company Profile

The ETF seeks to provide exposure to the performance of a portfolio of Canadian banks to generate income and to provide long-term capital appreciation while mitigating downside risk through the use of covered call options. To achieve investment objective the ETF will primarily invest in and hold the securities of Canadian banks, ETFs, or a combination of these. Depending on market volatility and other factors, the ETF will write covered call options on these securities. Under such call options, the ETF will sell to the buyer of the option, for a premium, either a right to buy the security from the ETF at an exercise price or, if the option is cash settled, the right to a payment from the ETF equal to the difference between the value of the security and the exercise price.