Harvest Declares Big Pharma Split Corp. May 2025 Distribution
OAKVILLE, Ontario--(BUSINESS WIRE)--May 23, 2025--
Harvest Portfolios Group Inc. ('Harvest') declares the monthly cash distribution payable for Big Pharma Split Corp. of $0.1031 for each class A share (PRM:TSX) for the month ending May 31, 2025. The distribution is payable June 9, 2025 to class A shareholders of record at the close of business May 30, 2025.
For additional information: Please visit www.harvestportfolios.com , e-mail [email protected] or call toll free 1-866-998-8298.
For media inquiries: Contact Caroline Grimont, VP Marketing at [email protected]
About Harvest Portfolios Group Inc.
Founded in 2009, Harvest is a Canadian Investment Fund Manager managing $6.4 billion in assets for Canadian Investors. At Harvest, our guiding principles are premised on building wealth for our clients through ownership of strong businesses that have the potential to grow & generate steady income over time. Harvest offers an innovative suite of exchange traded funds, mutual funds and publicly-listed structured fund products designed to satisfy the long-term growth and income needs of investors. We pride ourselves in creating trusted investment solutions that meet the expectations of our investors. ________________________________
For Additional Information: Website: https://harvestetfs.com
E-mail: [email protected]
Toll free: 1-866-998-8298 ________________________________
Subscribe to Our Monthly Newsletter: https://harvestportfolios.com/subscribe ________________________________
Follow Us on Social Media: LinkedIn: https://www.linkedin.com/company/harvest-portfolios-group
Twitter: https://twitter.com/harvestetfs
Facebook: https://www.facebook.com/HarvestETFs
YouTube: https://www.youtube.com/c/HarvestETFs ________________________________
You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment fund on the TSX. If the shares are purchased or sold on the TSX, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning shares of an investment fund. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. An investment fund must prepare disclosure documents that contain key information about the investment fund. You can find more detailed information about the investment fund in these documents.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250523549986/en/
CONTACT: For Additional Information:
Website:https://harvestportfolios.com
E-mail:[email protected]
Toll free: 1-866-998-8298
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: FINANCE BUSINESS BANKING PROFESSIONAL SERVICES ASSET MANAGEMENT
SOURCE: Harvest Portfolios Group Inc.
Copyright Business Wire 2025.
PUB: 05/23/2025 07:30 AM/DISC: 05/23/2025 07:29 AM
http://www.businesswire.com/news/home/20250523549986/en
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
Carney and Trump are holding private talks to drop tariffs
Prime Minister Mark Carney and U.S. President Donald Trump are having discussions out of the spotlight to reach a trade deal and lift tariffs. Sources with knowledge of the conversations first confirmed the calls with CBC/Radio-Canada and Industry Minister Mélanie Joly later told reporters that Carney and Trump are talking to each other. A source, who spoke on the condition they not be named, said the two leaders have had a few phone calls in the evenings and exchanged text messages about trade since Carney's visit to the White House last month. There have been no public readouts of the talks between Carney and Trump. Sources said the conversations are aimed at reaching an agreement on the trade war launched by the U.S. against Canada. Carney and Trump have talked openly about a desire to chart a new economic and security deal, but the Canada-U.S. relationship appeared to hit a snag earlier this week when Trump doubled tariffs on all steel and aluminum imports. The tariffs, now at 50 per cent, are a further blow to the Canadian industries that are the U.S.'s biggest supplier of the Wednesday, Carney only said "intensive discussions" were ongoing and that his government was readying reprisals if negotiations with the United States failed. Sources told CBC/Radio-Canada they are hoping for some sort of Canada-U.S. trade deal by the time Trump and Carney meet at the G7 summit — just 10 days from now in Alberta. Asked Thursday how close the two sides are to a deal, Canada-U.S. Trade Minister Dominic LeBlanc said he's not talking about it publicly. Speaking in French, Joly confirmed there have been talks and said it's normal during a trade war to have diplomatic discussions. "We won't negotiate in public," she added in English. "We'll let the prime minister do his work." A White House spokesperson told CBC News that Trump was "directly" involved in talks with Canada, but didn't mention Carney specifically. "Talks with Canada continue about trade, border security and defence matters. Any deal announcements, however, will come from President Trump himself," spokesperson Kush Desai said in a official with the U.S. embassy said "both the president and prime minister, or members of their teams, have publicly acknowledged that there are ongoing conversations. But this is not something that will be negotiated in public." Earlier this week, Trump's envoy to Canada, Ambassador Pete Hoekstra, told a crowd in Toronto the deal "is being settled at the highest levels of the U.S. government with the involvement of the highest elected officials." The direct conversations between Carney and Trump were first reported by the Globe and Mail. Carney, who campaigned on the promise he'd take on Trump, has been under pressure to respond to the president's latest tariff salvo. The Canadian Steel Producers Association called the doubled tariffs a "crushing blow" to the industry and said the move effectively blocks Canadian steel from entering the U.S. market. The association wants to see immediate counter-tariffs on U.S. metals. Ontario Premier Doug Ford, who said he's in daily talks with the prime minister, called for retaliation if an agreement can't be reached "in the next few days." "Let's hope they get a deal. But if they don't, let's come out guns ablazing," he told reporters Thursday at Queen's Park.
Yahoo
38 minutes ago
- Yahoo
PINEWOOD.AI ANNOUNCES AGREEMENT TO ACQUIRE LITHIA'S MAJORITY STAKE IN NORTH AMERICAN JOINT VENTURE
to Acquire Lithia's 51% Stake; New Contract Secures Deployment Across Lithia's Dealerships in US and Canada by 2028 LONDON and MEDFORD, Ore., June 6, 2025 /PRNewswire/ -- Pinewood Technologies Group plc ( a leading cloud-based software provider for the automotive retail industry, and Lithia UK Holdings Limited, a wholly-owned subsidiary of Lithia & Driveway (NYSE: LAD), today announced an agreement in which will acquire Lithia's 51% interest in their North American joint venture for $76.5 million. The acquisition will be satisfied through the issue of 14,560,691 new ordinary shares in and values the joint venture at $150 million. Full ownership of the joint venture gives complete control of its North American platform, removing potential barriers to its broader adoption and supporting its expansion across the region's $6.5 billion automotive retail software sector. The acquisition will also simplify structure and financial reporting, enabling full revenue consolidation and greater transparency. Alongside the proposed transaction, the two companies have signed a five-year contract committing to the rollout of the Pinewood Automotive Intelligence™ platform across all Lithia's current and future dealerships in the US and Canada projected by the end of 2028. The contract also includes an agreement on pricing for Lithia's use of expects to generate approximately $40 million in annual recurring revenue once the current rollout is complete. With additional North America-specific features planned for release by the end of 2028, projected annual revenue from Lithia is expected to reach approximately $60 million. The valuation attributed to the joint venture has been independently supported by Kroll LLC and is based on the deployment of DMS platform and layered applications across Lithia's North American footprint. "We are delighted to have reached an agreement with Lithia to acquire the majority stake of the North America joint venture. The US and Canada are central to our growth strategy, and through the joint venture, we have made significant progress towards commercializing the Pinewood Automotive Intelligence™ platform for the North American market. Assuming full control of the joint venture will strengthen our ability to fully capitalize on the opportunities available in a key strategic growth market," commented Bill Berman, Chief Executive Officer of Pinewood Technologies Group plc. "Today, we are also announcing that we have agreed the terms of a five-year contract with Lithia to implement the Pinewood Automotive Intelligence™ Platform across all its current and future sites by the end of 2028. This is a significant milestone on our journey to entering the North American market and we remain on track to pilot the platform in Lithia's US stores in the second half of 2025, with the full system rollout commencing in 2026. I would like to take this opportunity to thank Lithia for their partnership in the joint venture and we look forward to working with them as a key customer long into the future." "This agreement represents the next step in our strategic partnership with and supports our vision to modernize customer experiences across our ecosystem. As largest global customer, we are excited to partner in the rollout of their platform across our North American network and accelerate our transformation into a fully integrated, data-driven retailer. is now able to emerge as the leading automotive intelligence provider in the U.S. Each of our global stores are committed to the Pinewood Automotive Intelligence™ Platform, and we will continue partnering on best-in-class product development," said Bryan DeBoer, President and CEO of Lithia & Driveway. Following completion, Lithia will remain a committed minority shareholder and key long-term customer. About Pinewood Technologies Group PLC First established in 1981, Pinewood Technologies Group PLC (Pinewood) is a leading cloud based full-service technology provider to automotive retailers and OEMs. Pinewood's system is a market-leading automotive intelligence platform, which has been developed collaboratively with dealers and OEMs to provide secure cloud-based software across sales, aftersales, accounting and CRM. Headquartered in the UK, Pinewood has a team of over 200 people serving over 35,000 global users across 21 countries and long-standing partnerships with over 50 OEM brands. Previously part of Pendragon PLC, in 2024 Pinewood became an independent entity following the sale of Pendragon's UK Motor and Leasing divisions to Lithia Motors, Inc., one of the largest automotive retailers in North America. Pinewood simultaneously signed a strategic partnership with Lithia to roll out its software across Lithia's UK locations and form a joint venture to co-develop capabilities and accelerate Pinewood's entry into the North American market. LSE: PINE OTCQX: PINWF About Lithia & DrivewayLithia & Driveway (NYSE: LAD) is the largest global automotive retailer providing a wide array of products and services throughout the vehicle ownership lifecycle. Simple, convenient, and transparent experiences are offered through our comprehensive network of physical locations, e-commerce platforms, captive finance solutions, fleet management offerings, and other synergistic adjacencies. We deliver consistent, profitable growth in a massive and unconsolidated industry. Our highly diversified and competitively differentiated design provides us the flexibility and scale to pursue our vision to modernize personal transportation solutions wherever, whenever and however consumers desire. View original content to download multimedia: SOURCE Lithia Motors, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
2 hours ago
- Forbes
Solos, Corporations, And LLCs: What Works Best For Your Business?
Getting the choice of entity right at the start is crucial, since switching later can have tax and other consequences. When you're getting started in business, it can be tempting to rush through to get to the good stuff. After all, you have a cool idea and an even cooler sounding name. Can't you just tack 'LLC' onto the end using one of those online services? The short answer is no. Entity selection is more important than you think. Your choice of entity can affect the number and identity of shareholders and partners, equity structure, control and management, as well as the type of funding you may be eligible to receive. I know what you're thinking: why not just pick something to get started and change it if it doesn't work? Getting it right from the beginning is crucial. While it's true that you can make a switch later on, there could be tax and other consequences that may impact you in the long run. The best plan is to get it right the first time. When making a choice about an entity, there's a lot to consider, including two key things: Entity choice can get pretty complicated. There are several key factors to consider, including liability, organizational control, potential funding sources, and tax implications. What follows is a brief primer on the most common forms of entity (with a focus on taxes, of course): The sole proprietorship is the simplest form of business entity. There is no formal procedure to establish a sole proprietorship—no forms to fill out, no agreements to sign, and no documents to file with the state. With few formal accounting requirements, transferring personal and business assets in and out of the business is easy. However, the absence of formal requirements means that the owner of the sole proprietorship can be personally liable for the business's debts and obligations, including tax bills and legal awards. When creditors, including the IRS, attempt to collect, they may be able to reach personal assets, like your house, to satisfy judgments. For federal tax purposes, taxpayers do not file a separate tax return for a sole proprietorship. Income and expenses from the business are reported on an individual taxpayer's Form 1040 on Schedule C. In some cases, that produces a less favorable tax result—but on the plus side, losses from your business can be used to offset other taxable income. Establishing a partnership (or general partnership) is nearly as easy as creating a sole proprietorship—it's just an association of two or more individuals who agree to run a business for profit. As with a sole proprietorship, most states do not require formal procedures to establish a partnership—there are no forms to complete, no agreements to sign, and no documents to file, even though having these is advisable for business and legal purposes. In a general partnership, partners share liability for business obligations (typically, jointly and individually). For federal tax purposes, although a partnership is required to file a separate return (Form 1065), the income and losses associated with the partnership pass through to the individual partners. Items of income or loss retain their character and are reported to each partner in proportion to their interest, as determined by statute or the partnership agreement. Each partner is then responsible for reporting that information on their individual tax returns. A limited partnership is typically defined as a partnership formed by one or more general partners and one or more limited partners. General partners are treated much like what we think of as "typical" partners—they have joint and several liability for the partnership's debts and often exercise control over the partnership. The 'limited' in a limited partner means that those partners may enjoy limited liability protection from the partnership's liabilities (this depends on state law), but it also tends to mean that those partners have a lesser role in operations and decision making. For federal tax purposes, a limited partnership is treated as a pass-through entity, similar to a general partnership. A limited liability partnership (LLP) is similar to a general partnership, but unlike a general partnership, which can exist informally, an LLP must be registered with the state. The benefit of registration—a formal acknowledgment of the entity—is that the LLP assumes a form of limited liability similar to that of a corporation. Typically, this means that partners aren't liable for the wrongful actions of the other partners, though the level of liability can vary from state to state. Generally, there is unlimited personal liability for the partnership's contractual obligations, like promissory notes and mortgages. For federal tax purposes, an LLP is treated as a pass-through entity, similar to a general partnership. Just over half of U.S. states recognize a limited liability limited partnership (LLLP). You can think of an LLP as a general partnership with limited liability, so adding that extra 'L' typically results in an LLLP being treated as a limited partnership with that same limited liability. That means that the primary advantage of an LLLP is limited liability protection for the general partner. For federal tax purposes, an LLLP is treated as a pass-through entity, similar to a general partnership. The limited liability company (LLC) remains the most popular type of business in the U.S.—approximately four in 10 small businesses will form as an LLC. Here's what makes it so popular: it offers the liability protection of a corporation while allowing for taxation as either a partnership or a corporation. An LLC consists of members, rather than shareholders. Individual members are generally protected from liability as long as corporate formalities are maintained. LLCs must typically register with the state and are often required to comply with additional requirements, such as annual reports. Even with the extra paperwork, LLCs typically have considerably fewer corporate formalities than other corporations. For federal tax purposes, the default tax treatment of an LLC is that it operates as a pass-through entity (meaning that it will file a partnership tax return). However, an LLC can opt to be treated differently by making an election. There may be instances where corporate tax treatment is more desirable (for example, when the individual members are foreign nationals) or when it makes sense to be taxed as an S corporation (typically related to compensation). It's worth noting that states may impose additional corporate taxes on LLCs, even if they are otherwise considered partnerships, which can increase the costs associated with being an LLC. A single-member limited liability company (SMLLC) is just what it sounds like: an LLC with a single member. An SMLLC retains the advantages of an LLC for most purposes—except when it comes to tax. For federal tax purposes, an SMLLC is treated as a "disregarded entity.' This means that the owner does not file a separate tax form for the business. Instead, income and expenses are reported on an individual taxpayer's Form 1040, Schedule C, just like a sole proprietor. While all states recognize SMLLCs, the tax treatment is not the same in every state (meaning that not all states treat SMLLCs as disregarded entities). A C corporation—which gets its name from Subchapter C of the Internal Revenue Code—is what most people consider when thinking about a business. In a typical C corporation, the business is owned by individual shareholders who hold stock certificates or shares (yes, we still call them certificates even though it's rare to have an actual piece of paper in hand). Shareholders vote on policy issues, but the decisions regarding company policy are left to the Board of Directors. The catch? The Board of Directors is typically elected by the shareholders. The day-to-day operations of running the company are performed by the officers of the corporation—think chief executive officers (CEOs). The primary advantage of a C corporation is limited liability—individual shareholders are typically not responsible for the company's debts, obligations, and actions. For federal tax purposes, a C corporation is a separate taxable entity that figures income or loss each year and pays tax on taxable income. The current federal corporate income tax rate is a flat rate of 21% (before 2017, the rate was 35%). Shareholders also pay tax at their individual income tax rates for any dividends or taxable distributions paid out during the year. Since tax is already paid on the company's profits, this is where the term "double taxation" originates. A professional corporation (PC) is a type of corporation limited to specific occupations, typically service professions such as law, medicine, and architecture. A PC is generally not allowed to extend its services beyond those for which it was specifically incorporated with the state. For example, a PC for law cannot offer design services. In most states, this also means that individuals who are not licensed in the profession may not be shareholders—this rule applies not only to employees but also to potential investors and family members. For federal tax purposes, a PC may elect to be taxed as either a C or S corporation. Most PCs are considered personal service corporations (PSC) by the IRS. However, the terms don't mean the same thing—a PC is the legal entity, while a PSC is the tax classification. Currently, a PSC is taxed at a flat rate of 21%. A benefit corporation, also known as a B corporation, is a legal entity recognized in most states. It enables a corporation to consider social and environmental impacts when making management decisions as part of a broader public benefit. This differs from other for-profit corporations, which typically have a duty to shareholders to prioritize profits—it also means that some benefit corporations are less attractive to investors. Well-known benefit corporations include King Arthur Flour and Patagonia. For federal tax purposes, there is no difference between a B corporation and a C corporation—they are taxed the same. Don't confuse a benefit or B corporation with a B Corp. Although they sound the same, a B Corp is a business certified by B Lab, a third-party organization. To certify as a B Corp, a business must meet specific requirements, including achieving high social and environmental performance scores. You can certainly be a B Corp as a benefit corporation (see again King Arthur), but the terms are not interchangeable. Importantly, a B Corp doesn't confer any particular legal status. For federal tax purposes, a B Corp does not result in any tax benefit. You are taxed according to your entity status and federal tax elections. An S corporation is often misunderstood. It's not a legal entity—it's a tax election that gets its name from Subchapter S of the Internal Revenue Code. To be considered an S corporation, a business must be formed as a separate legal entity (such as a corporation or LLC) at the state level. Then, an election is made at the federal level to be taxed as an S corporation. Under federal law, an S corporation must be a domestic corporation with shareholders who are domestic individuals, trusts, or estates (no partnerships, corporations, or non-resident alien shareholders). An S corporation can have no more than 100 shareholders, and most offer only one class of stock. Additionally, certain types of businesses, such as certain financial institutions, insurance companies, and domestic or international sales corporations, aren't eligible to elect S-status. Those limitations mean that an S corporation may not be a good fit for companies expecting to grow quickly and seek outside investment. For federal tax purposes, S corporations are considered pass-through entities, though not quite like partnerships. There is a separate tax return for an S corporation (Form 1120-S) that reflects key differences in how income and losses are accounted for compared to a partnership. However, like a partnership, most items of income or loss retain their character and are reported to shareholders in proportion to their interest. A considerable appeal of S corporations is that they allow owners to take both a salary and a distribution from the business. Since distributions aren't subject to payroll taxes (Social Security and Medicare), the result can sometimes result in tax savings—it can also create an incentive to shrink wages and inflate distributions. The IRS insists that owners be paid reasonable compensation—being greedy can land you in hot water. A corporation sole can be a legitimate entity organized for religious (non-profit) purposes in some states. However, despite what scammers suggest, a taxpayer cannot use a corporation sole created simply to avoid paying tax. The IRS has issued warnings about these scams for decades, but taxpayers still bite—often in a failed bid to secure protection from creditors. For federal tax purposes, a bona fide corporation sole may be exempt from tax. However, individual taxpayers who claim tax benefits based on a corporation sole scheme will not only have to pay the tax due (plus penalties and interest) but may also face substantial civil and criminal penalties. Small businesses have lots of choices when it comes to selecting an entity and making tax elections. However, not every choice is interchangeable with another, and where you live might limit your options. Additionally, your facts and circumstances—including your plans for future investment—can mean that one choice is necessarily better than another. Consult with a professional before taking action.
