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ETFMG Alternative Harvest ETF Announces Quarterly Dividend

December 27, 2019 4:26 pm
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ETFMG Alternative Harvest ETF Announces Quarterly Dividend

The issuer of the ETFMG Alternative Harvest ETF (NYSE:MJ), the world’s largest cannabis-focused ETF, announced a $13,056,000 quarterly dividend Friday.

Stockholders of record as of the close of business Dec. 30 will receive 32 cents per share on Jan. 3. 

Over the course of 2019, investors in MJ received a total of more than $34.2 million in quarterly dividend payouts.

The latest dividend projects an annualized return of 7.68%. This translates into a 6.93% yield after the fund’s 0.75% expense ratio is deducted.

See Also: Law Enforcement Struggles To Differentiate Weed From Hemp: This 50-Year-Old Technology Might Be The Solution