Cannabis ETF MJ Declares Quarterly Dividend of 28 Cents Per Share

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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. 

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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. 

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