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LQWD Technologies Lightning Network Infrastructure Surpasses 1 Million Global Transactions (click to learn more)

Bullboard - Stock Discussion Forum Premium Income Corp T.PIC.A

Alternate Symbol(s): T.PIC.PR.A

Premium Income Corporation is a split share company. The Fund’s investment objectives are to provide Preferred shareholders with cumulative preferential quarterly cash distributions of $0.215625 per share, representing an annual yield of 5.75% on the original issue price of the Preferred shares; to provide Class A shareholders with quarterly cash distributions of $0.20319 per share, and to... see more

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Bullboard (TSX:PIC.A)

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Post by elonmuskrat247on Sep 04, 2024 8:57am

Wow, 8.5% for full 7 year term when,,,

Interest rates are falling... That should keep the demand for preferred shares stable. Now if the banks can dodge most of the loan loss provisions this etf should rock on into the next 7 year term ...more

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Post by navgodon Sep 03, 2024 11:18am

My reply from Jeff Dobson, vp Mulvihill

The 8.5% Pref share coupon is fixed for the full seven year term!!! No explaination for wording of press release.

403

Energy Co Unveils Q3 2024 Results: Record Growth & Strategic Expansion

posted Nov 21, 2024 9:00am by Coelacanth Energy Inc.

In Q3 2024, Coelacanth started the construction of its planned $80.0 million infrastructure project that includes over 35 kilometers of pipelines and a facility to handle current behind pipe volumes and future expansions. Ultimately the facility will be able to handle approximately 16,000 boe/d of which Coelacanth has approximately 4,400 boe/d tested but shut-in at the 5-19 Two Rivers East pad ...read more

Post by Donwaanon Sep 03, 2024 10:52am

Reply from Mulvihill

The Board has not determined yet whether the frequency change will apply to the PIC.a shares as well, although it is likely. If so, it will be announced by press release closer to the November ...more

418

Comment by HermannHalleron Sep 03, 2024 9:39am

RE:RE:Good point Navgod,,,,

Why would there be a good amount of shares offfered at $14.95???

Discussion

Comment by navgodon Sep 03, 2024 8:29am

RE:Good point Navgod,,,,

Agreed that is how I read it -- however if you review the most recent annual report or short form prospectus the period referred to is the full seven year term hence my inquiry to Mulvihill. If it is ...more

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Discussion

Post by elonmuskrat247on Sep 03, 2024 8:06am

Good point Navgod,,,,

The news release clearly states that the 8.5 % is set only for the fiscal year on the preferred shares. As rates continue to drop they can reset it accordingly in future years.

396

Discussion

Comment by navgodon Sep 03, 2024 4:25am

RE:This courtesy of navgod

This also courtesy of NAVGOD -- two points 1) have a email into brompton to clarify if the 8.5% pref rate is fixed for 1 or 5 years if the latter it's a steep hill to climb for the capital shares ...more

126

Discussion

Comment by CStewart98on Sep 02, 2024 4:23pm

RE:With the preferred shares

I would love it if they did. When I read this quick I thought it was, then realized it was for preferred. Either way, glad it is starting to move upwards.

Discussion

Post by Donwaanon Sep 02, 2024 2:32pm

This courtesy of navgod

...pref shareholders will have the option of redeeming their shares for $15 on Nov. 1st (at the time they were trading under $14 , now trade closer to $15). As we approach the extension date ...more

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Discussion

Comment by Donwaanon Sep 02, 2024 2:22pm

RE:RE:With the preferred shares

Good points elonm! I emailed Mulvihill asking for clarification about any change to the PIC.A distribution policy.

Discussion

Comment by elonmuskrat247on Sep 02, 2024 9:31am

RE:With the preferred shares

I would assume that would be the case. However, the news release is not clear on that point. The bigger question is if the common distribution will be reduced by the 0.034375 cents/month given to the ...more

Discussion

Post by Donwaanon Sep 01, 2024 7:58pm

With the preferred shares

...move to a monthly distribution from a quarterly distribution I wonder if the class A shares will follow suit?

533

Discussion

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•••

Post by PressReleaseon Aug 30, 2024 4:00pm

New Press Release - Premium Income Corporation Preferred Share Rate Increase and Change to Monthly Distribution

TORONTO, Aug. 30, 2024 (GLOBE NEWSWIRE) -- (TSX: PIC.PR.A) Premium Income Corporation (the “Fund”) is pleased to announce the Preferred Share distribution rate for the fiscal year beginning November 1, 2024, will increase to 8.50% from 5.75% on their $15.00 redemption value and will move to...read article.

Post by Donwaanon Aug 27, 2024 11:07am

Condition (iii) would be cause for concern

ATM sales commence Aug. 8, 2024, and end on the earlier of: (i) Sept. 7, 2026; (ii) the issuance and sale of all of the shares subject to the equity distribution agreement dated Aug. 8, 2024; and (iii ...more

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Alternate Symbol(s): T.PIC.PR.A

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