Just launched back in July, The Cannabis ETF (NYSE:THCX), one of the first passively managed pure-play ETF solutions for investing in the cannabis industry, recently declared a cash dividend of $0.4176 per share, marking the first income distribution for investors in this potential growth play.
Here’s what THCX investors need to know…
Distribution Amount: $0.4176 Per Share
Ex-date: December 30, 2019
Record date: December 31, 2019
Pay date: January 2, 2020
Currently listed on the New York Stock Exchange, THCX tracks the Innovation Labs Cannabis Index, a rules-based portfolio that rebalances on a monthly basis.
The index currently consists of 33 cannabis-related stocks that are expected to benefit from the rise in value of the global cannabis market which has been estimated by Seaport Global Securities to reach $630 billion by 2040.
Other popular cannabis ETFs include the ETFMG Alternative Harvest ETF (NYSE:MJ), the Horizons Emerging Marijuana Growers ETF (NEO:HMJR) (OTC:HZEMF), and more.
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Did you know that almost the entire dividend comes from renting their stocks to short sellers. I love free money but the problem is that it’s not sustainable. No one should belive that these are dividend paying securities, at least not dividends paid by portfolio constituents.