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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
Bullboard Posts
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(3)
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Post by oldtrustguyon Jul 04, 2020 7:09pm
334 Views
Post# 31224928

concerned about what happened in 2010

concerned about what happened in 2010I am concerned about what they did in 2010 after the big hit in 2008

NOV 1 2010

class A shares were consolidated on Nov 1-2010 on the basis of 0.738208641
new shares for each class A held.

This raised the NAV by about 2.00 to 7.62 as of 2010-11-04

The previous NAV on 2010-10-31 was 5.58

I quess they felt that a NAV of 5.58 was not good enough.

Could this happen again?? any comments
Bullboard Posts
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