The Yorkville High Income MLP ETF (NYSE: YMLP) has declared its first distribution at an annualised rate of 8.74 per cent.
YMLP, the first and only exchange-traded fund (ETF) delivering exposure to high income, commodity-based master-limited partnerships (MLPs), will issue $0.400503 per share to holders of the fund.
“We are excited the rules-based investment strategy that YMLP follows has delivered this attractive distribution,” says Darren Schuringa (pictured), CFA, Managing Partner at Yorkville ETF Advisors. “The announced yield of YMLP demonstrates the value that our extensive research of this alternative asset class brings to the fund’s shareholders.”
The ex-/reinvestment date for the distribution is 15 May, 2012, the record date is 17 May, 2012, and the payable date is May 21, 2012. Yorkville ETF Advisors plans to issue future distributions on a quarterly basis. Shareholders can expect distributions going forward each year in February, May, August and November, with the next distribution occurring in August 2012.
The Solactive High Income MLP Index tracked by YMLP is a rules-based index that applies a multi-factor selection model to the MLP universe. Analysed factors include coverage ratio of distributions, distribution growth and size of distributions. A select group of MLPs deemed to be most favourable across all three factors become index constituents.
The Solactive High Income MLP Index is published and maintained by Structured Solutions AG, which determines the components and relative weightings of the securities in the Index and publishes information regarding the Index.
Exchange Traded Concepts, LLC serves as investment adviser to YMLP. Yorkville ETF Advisors, LLC, and Index Management Solutions, LLC, serve as sub-advisers.