RBC Global Asset Management Inc. (RBC GAM Inc.) today announced estimated December 2023 cash distributions for unitholders of RBC ETFs and ETF Series of RBC Funds.
Please note that these are estimated amounts only, as of December 15, 2023. The estimates could change if the RBC ETFs or ETF Series of RBC Funds, as applicable, experience subscriptions or redemptions prior to the ex-dividend date or for other unforeseen factors.
RBC GAM Inc. expects to announce final December monthly cash distributions for RBC ETFs and ETF Series of RBC Funds on or about December 29, 2023. Unitholders of record on December 29, 2023 will receive distributions payable on January 8, 2024.
The actual taxable amounts of cash and reinvested distributions for 2023, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc.) in early 2024.
The estimated December cash distribution amounts per unit for the RBC ETFs are as follows:
| FUND NAME | FUND TICKER | ESTIMATED CASH DISTRIBUTION PER UNIT |
| RBC 1-5 Year Laddered Canadian Bond ETF | RLB | $0.035 |
| RBC 1-5 Year Laddered Corporate Bond ETF | RBO | $0.030 |
| RBC Target 2024 Government Bond ETF | RGQL | $0.025 |
| RBC Target 2025 Government Bond ETF | RGQN | $0.025 |
| RBC Target 2026 Government Bond ETF | RGQO | $0.020 |
| RBC Target 2027 Government Bond ETF | RGQP | $0.025 |
| RBC Target 2028 Government Bond ETF | RGQQ | $0.030 |
| RBC Target 2029 Government Bond ETF | RGQR | $0.035 |
| RBC Target 2024 Corporate Bond Index ETF | RQL | $0.055 |
| RBC Target 2025 Corporate Bond Index ETF | RQN | $0.050 |
| RBC Target 2026 Corporate Bond Index ETF | RQO | $0.045 |
| RBC Target 2027 Corporate Bond Index ETF | RQP | $0.050 |
| RBC Target 2028 Corporate Bond Index ETF | RQQ | $0.050 |
| RBC Target 2029 Corporate Bond Index ETF | RQR | $0.030 |
| RBC Canadian Discount Bond ETF | RCDB | $0.025 |
| RBC PH&N Short Term Canadian Bond ETF | RPSB | $0.115 |
| RBC U.S. Discount Bond ETF | RUDB | $0.025 |
| RBC U.S. Discount Bond ETF (USD Units)* | RUDB.U | $0.019 |
| RBC U.S. Discount Bond (CAD Hedged) ETF | RDBH | $0.025 |
| RBC Short Term U.S. Corporate Bond ETF | RUSB | $0.115 |
| RBC Short Term U.S. Corporate Bond ETF (USD Units)* | RUSB.U | $0.086 |
| RBC Canadian Preferred Share ETF | RPF | $0.090 |
| RBC Quant Canadian Dividend Leaders ETF | RCD | $0.080 |
| RBC Canadian Dividend Covered Call ETF | RCDC | $0.115 |
| RBC Canadian Bank Yield Index ETF | RBNK | $0.090 |
| RBC Quant U.S. Dividend Leaders ETF | RUD | $0.075 |
| RBC Quant U.S. Dividend Leaders ETF (USD Units)* | RUD.U | $0.056 |
| RBC Quant U.S. Dividend Leaders (CAD Hedged) ETF | RUDH | $0.050 |
| RBC U.S. Dividend Covered Call ETF | RUDC | $0.101 |
| RBC U.S. Dividend Covered Call ETF (USD Units)* | RUDC.U | $0.075 |
| RBC U.S. Banks Yield Index ETF | RUBY | $0.045 |
| RBC U.S. Banks Yield Index ETF (USD Units)* | RUBY.U | $0.034 |
| RBC U.S. Banks Yield (CAD Hedged) Index ETF | RUBH | $0.030 |
| RBC Quant European Dividend Leaders ETF | RPD | $0.055 |
| RBC Quant European Dividend Leaders ETF (USD Units)* | RPD.U | $0.041 |
| RBC Quant European Dividend Leaders (CAD Hedged) ETF | RPDH | $0.055 |
| RBC Quant EAFE Dividend Leaders ETF | RID | $0.060 |
| RBC Quant EAFE Dividend Leaders ETF (USD Units)* | RID.U | $0.045 |
| RBC Quant EAFE Dividend Leaders (CAD Hedged) ETF | RIDH | $0.060 |
| RBC Quant Emerging Markets Dividend Leaders ETF | RXD | $0.075 |
| RBC Quant Emerging Markets Dividend Leaders ETF (USD Units)* | RXD.U | $0.056 |
| * Cash distribution per unit ($) amounts are USD for RUDB.U, RUSB.U, RUD.U, RUDC.U, RUBY.U, RPD.U, RID.U, and RXD.U |
The estimated December cash distribution amounts per unit for ETF Series of RBC Funds are as follows:
| FUND NAME | FUND TICKER | ESTIMATEDCASH DISTRIBUTION PER UNIT |
| RBC Canadian Equity Income Fund – ETF Series | RCEI | $0.059 |
| RBC North American Value Fund – ETF Series | RNAV | $0.395 |
| RBC North American Growth Fund – ETF Series | RNAG | $0.278 |
| RBC International Equity Fund – ETF Series | RINT | $0.290 |
| RBC Emerging Markets Dividend Fund – ETF Series | REMD | $0.047 |
| RBC Global Precious Metals Fund – ETF Series | RGPM | $0.000 |
| RBC Global Energy Fund – ETF Series | RENG | $0.545 |
| RBC Global Technology Fund – ETF Series | RTEC | $0.000 |
Please note that the above estimated cash distributions do not include the annual reinvested capital gains distributions for 2023, which are reported separately.
For further information regarding RBC ETFs and ETF Series of RBC Funds, please visit www.rbcgam.com/etfsolutions.
Forward-looking information:
This notice contains forward-looking statements within the meaning of certain securities laws. Forward-looking statements in this notice include statements with respect to the December 2023 cash distributions for the RBC ETFs and ETF Series of RBC Funds. By their nature, these forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that the actual cash distributions will differ materially from the estimated cash distributions set forth in this notice. Factors that could cause the actual cash distributions to differ from the estimated cash distributions include, but are not limited to: the actual amounts of distributions received by the RBC ETFs and ETF Series of RBC Funds; the actual amounts of capital gains generated from sales of securities; trading activity within the RBC ETFs and ETF Series of RBC Funds, including buying and selling of securities; and subscription and redemption activity.
Distribution estimates do not denote the yield a client may receive. All values are expressed in Canadian dollars, unless otherwise indicated. Totals may not sum due to rounding. The December 2023 cash distribution estimates are provided by RBC GAM Inc. and are for information purposes only. They do not reflect final attributions for tax purposes. For more information, please speak with your investment advisor.
Commissions, management fees and expenses all may be associated with investments in mutual funds and exchange-traded funds (“ETFs”). Please read the applicable ETF Facts or prospectus before investing. Mutual funds and ETFs are not guaranteed, their values change frequently and past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and ETF Series is a class of securities offered by a mutual fund that are bought and sold at market price on a stock exchange. Brokerage commissions will reduce returns. RBC ETFs do not seek to return any predetermined amount at maturity. Index returns do not represent RBC ETF returns. RBC ETFs and RBC Funds are managed by RBC GAM Inc., a member of the RBC GAM group of companies and an indirect wholly-owned subsidiary of Royal Bank of Canada.
RBC Target 2024 Corporate Bond Index ETF, RBC Target 2025 Corporate Bond Index ETF, RBC Target 2026 Corporate Bond Index ETF, RBC Target 2027 Corporate Bond Index ETF, RBC Target 2028 Corporate Bond Index ETF and RBC Target 2029 Corporate Bond Index ETF (collectively, the “TMCB ETFs”) do not seek to deliver a predetermined amount at maturity, and the amount an investor receives may be more or less than their original investment. The TMCB ETFs have been developed solely by RBC GAM Inc., and are not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”).
All rights in the FTSE Canada 2024 Maturity Corporate Bond Index, FTSE Canada 2025 Maturity Corporate Bond Index, FTSE Canada 2026 Maturity Corporate Bond Index, FTSE Canada 2027 Maturity Corporate Bond Index, FTSE Canada 2028 Maturity Corporate Bond Index and FTSE Canada 2029 Maturity Corporate Bond Index (collectively, the “FTSE Maturity Corporate Bond Indices”) vest in the relevant LSE Group company which owns the FTSE Maturity Corporate Bond Indices. “FTSE®” is a trade mark of the relevant LSE Group company and is used by any other LSE Group company under license.
The FTSE Maturity Corporate Bond Indices are calculated by or on behalf of FTSE Global Debt Capital Markets Inc. or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the FTSE Maturity Corporate Bond Indices or (b) investment in or operation of the TMCB ETFs. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the TMCB ETFs or the suitability of the FTSE Maturity Corporate Bond Indices for the purpose to which they are being put by RBC GAM Inc.
The RBC Canadian Bank Yield Index ETF, RBC U.S. Banks Yield Index ETF, and RBC U.S. Banks Yield (CAD Hedged) Index ETF have been developed solely by RBC GAM Inc. and are not sponsored, promoted, sold or supported by Solactive AG (“Solactive”). The Solactive Canada Bank Yield Index, Solactive U.S. Bank Yield NTR Index and Solactive U.S. Bank Yield NTR (CAD Hedged) Index are calculated and published by Solactive. Solactive does not offer any express or implicit guarantee or assurance regarding the results to be obtained from the use of the index or index price nor does Solactive make any representation regarding the advisability of investing in the ETFs.
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 94,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 27 other countries.
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