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16-Jan-2019

Middlefield Healthcare & Life Sciences Announces First Quarter Distribution Schedule as an Active ETF

Middlefield Healthcare & Life Sciences Announces First Quarter Distribution Schedule as an Active ETF

Canada NewsWire

CALGARY, Jan. 16, 2019

CALGARY, Jan. 16, 2019 /CNW/ - Middlefield Healthcare & Life Sciences Dividend Fund (TSX:LS.UN) (the "Fund") is pleased to announce that distributions for the first quarter of 2019 will be payable to unitholders of Middlefield Healthcare & Life Sciences Dividend Fund as follows:

 

Record Date

 

Payable Date

Distribution

Per Unit

January 31, 2019

February 6, 2019

$0.04167

 

The Fund is expected to convert into an exchange-traded fund in mid-February 2019, after which regular monthly distributions will be paid by Middlefield Healthcare & Life Sciences ETF(TSX:LS).

 

Record Date

 

Payable Date

Distribution Per

ETF Unit

February 28, 2019

March 15, 2019

$0.04167

March 31, 2019

April 15, 2019

$0.04167

 

As previously announced, after conversion into an ETF the management fee of Life Sciences will be reduced from 1.10% to 0.85%. Life Sciences will be the largest, fully active healthcare ETF in Canada upon conversion. Units are expected to trade efficiently with tighter bid/ask spreads and closer to their net asset values as a result of the conversion. The conversion will not impact existing distributions to Unitholders and the investment strategy of the Fund will remain substantially similar following the conversion.

Middlefield Group

Formed in 1979, Middlefield creates and manages specialized investment products for individual and institutional investors and has assets under management of approximately $4 billion. Investment products include mutual funds, closed-end funds, ETFs, private and public resource funds, real estate funds and a venture capital fund.

This press release contains forward-looking information. The forward-looking information contained in this press release is based on historical information concerning distributions and dividends paid on the securities of issuers historically included in the portfolio of the Fund. Actual future results, including the amount of distributions paid by the Fund, may differ from the monthly distribution amount. Specifically, the income from which distributions are paid may vary significantly due to: changes in portfolio composition; changes in distributions and dividends paid by issuers of securities included in the Fund's portfolio from time to time; there being no assurance that those issuers will pay distributions or dividends on their securities; t he declaration of distributions and dividends by issuers of securities included in the portfolio will generally depend upon various factors, including the financial condition of each issuer and general economic and stock market conditions; the level of borrowing by the Fund; and the uncertainty of realizing capital gains.  The risks, uncertainties and other factors that could influence actual results are described under "Risk Factors" in the Fund's prospectus dated June 23, 2017 and other documents filed by the Fund with the Canadian securities regulatory authorities. The forward-looking information contained in this press release constitutes the Fund's current estimate, as of the date of this press release, with respect to the matters covered hereby. Investors and others should not assume that any forward-looking statement contained in this press release represents the Fund's estimate as of any date other than the date of this press release.

SOURCE Middlefield Healthcare & Life Sciences Dividend Fund

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Last Updated: 16-Jan-2019