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 return the original issue price to holders of both preferred share and Class A shares upon windup of the Fund. It invests at least 75 % of its net asset value (NAV) in common shares of the Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and The Toronto-Dominion Bank (collectively, the Banks) and also invests up to 25 % of its NAV in common shares of National Bank of Canada. In addition, the Fund may purchase public investment funds, including exchange-traded funds and other Mulvihill Funds. Its investment manager is Mulvihill Capital Management Inc.

TSX:PIC.A - Post by User

Premium Income Corp

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Comment by JohnWalkeron Nov 25, 2019 3:56am

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Post# 30388255

RE:Updated NAV

PIC.A Unit NAV as of Nov 21st up $0.11 to $6.17.

That's the highest NAV valuation since April 30th of this year and is a 33% increase in NAV Valuation since the latest overnight offering 3 months ago. Meanwhile the share price has only risen 10.5% since the share offering.

Back 3 months ago when the overnight offering was done, the share price had an approximate premium over NAV valuation of 27.5%. As of last Friday the 22nd the premium to NAV has dropped to a mere 5.7%.

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