BMO Covered Call Canadian Banks ETF (ZWB.TO) (TSE:ZWB) Hits New 1-Year High Following Dividend Announcement

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

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

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

The firm has a 50-day moving average price of C$28.72 and a 200-day moving average price of C$26.65.

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.