BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) Sets New 12-Month High Following Dividend Announcement

BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) hit a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as C$31.09 and last traded at C$31.09, with a volume of 48347 shares changing hands. The stock had previously closed at C$30.91.

The newly announced dividend which will be paid on Friday, July 3rd. Investors of record on Friday, July 3rd will be given a dividend of $0.15 per share. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Monday, June 29th.

BMO Covered Call Canadian Banks ETF (ZWB.TO) Stock Performance

The business’s 50-day moving average is C$28.72 and its 200-day moving average is C$26.65.

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.