What is projected income and how is it calculated?
Projected income reflects future distributions that are anticipated to be paid on certain distribution paying securities that are currently held in your account, assuming that you continue to hold these securities into the future and that these securities continue to pay distributions on the same terms (e.g. rate and frequency) as their most recent or declared distribution. Projected distributions are calculated based on the securities quantities in the account on the trade date and may not be provided for all instruments.
Annual projected income is based on the securities quantities on the trade date, the distribution amount for the securities and the payment frequency for the securities on the annual basis.
Annual Projected Income = Trade Date Securities Quantity x Distribution Amount for the Securities x Securities' Annual Payment Frequency
Projected Income is categorized as either cash or reinvested. Cash income encompasses distributions paid in cash and reinvested income encompasses distributions reinvested in securities. Where partial shares cannot be purchased as part of the DRIP or DPP program, a small amount of the distribution may still be paid out in cash this cash is still reflected as reinvestment in the projected income.
Projected income is hypothetical, not guaranteed and is subject to change is calculated using information provided by the issuer (and not by Scotia iTRADE) and is based on certain assumptions that may not come true and will change if the distribution paying securities change their distribution policy or if you change your account holdings.
The information included in the Income Details Tab is provided for reference only and should not be used for any purpose including accounting, tax reporting and planning or for performance measurement purposes.