PowerShares Canada has increased the frequency of distributions paid by its suite of dividend-income funds from quarterly to monthly.
Beginning in August, the following PowerShares Funds will distribute income on a monthly basis:
• PowerShares Canadian Dividend Index Class
• PowerShares Canadian Preferred Share Index Class
• PowerShares Diversified Yield Fund
• PowerShares Global Dividend Achievers Fund
"Whether you're funding your retirement or helping to pay for your child's education, monthly distributions match most fixed spending patterns," says Michael Cooke, head of distribution, PowerShares Canada.
The increased frequency is the only change to the distribution policy of these funds. There will be no change to the calculation methodology of distributions.