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 Mar 02, 2020 10:36pm

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Post# 30759024

RE:Mar. 02 NAV

Donwaan wrote: A rough estimate of the NAV is 4.26 up 21 cents on the day

Let's assume you are correct. Does that increase in NAV today (and especially in this environment) justify moving a 15% premium to 27%.

People think that share prices are just going to recover straight to where they were before the Covid-19 scare .... and exhibitted FOMO today and bought up everything they viewed as a "bargain".

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