Cannabis ETF MJ Declares Quarterly Dividend of 28 Cents Per Share

0
25
This post was originally published on this site

Read more about our latest Cannabis News! CANNABIS HOME

MJ, The ETFMG Alternative Harvest ETF (NYSE: MJ), announced Thursday it has declared a $10.6-million third-quarter dividend, or 28 cents per share.

Based on this quarterly dividend, MJ said it projects an annualized yield of 4.66% or 3.91% when deducting the fund’s expense ratio.

When counting the new payment, MJ investors have gained around $21.2 million in dividend payments this calendar year. 

Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.

The fund will pay the dividend Sept. 25 to its shareholders of record as of the close of business Sept. 23. 

MJ is considered the largest cannabis ETF in the world. It is also the first U.S.-listed ETF directly focused on the global cannabis industry.  

The stock was trading down 1.29% at $23 at the time of publication Friday. 

Don’t miss out on the top cannabis stories of the day. Click here to sign up for our daily insider newsletter

Read more about our latest Cannabis News! CANNABIS HOME

© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.