BMO Covered Call Canadian Banks ETF (ZWB.TO) to Issue Monthly Dividend of $0.15 (TSE:ZWB)

BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) announced a monthly dividend on Monday, June 29th, TickerTech Dividends reports. Shareholders of record on Friday, July 3rd will be given a dividend of 0.15 per share on Friday, July 3rd. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Monday, June 29th.

BMO Covered Call Canadian Banks ETF (ZWB.TO) Stock Down 0.4%

Shares of TSE:ZWB opened at C$30.87 on Friday. The stock’s 50-day moving average is C$28.64 and its 200-day moving average is C$26.59. BMO Covered Call Canadian Banks ETF has a 52-week low of C$20.54 and a 52-week high of C$31.08.

About BMO Covered Call Canadian Banks ETF (ZWB.TO)

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.