Canoe EIT Income 4.80 Cumulative Redeemable Pref shs Series 1 ENDTF

Primary Symbol: T.EIT.PR.A Alternate Symbol(s): T.EIT.UN | T.EIT.PR.B

Financial Services Asset Management

Canoe EIT Income Fund (the Fund) is a Canada-based closed-end investment trust. The investment objectives of Fund are to maximize monthly distributions relative to risk and maximize net asset value, while maintaining and expanding a diversified investment portfolio, primarily through acquiring, investing, holding, transferring, disposing of or otherwise dealing with or in equity and debt securities of corporations, partnerships, or other issuers and such other investments as the manager may determine in its sole discretion from time to time. Canoe Financial LP is the manager and portfolio manager of the Fund.

TSX:EIT.PR.A - Post by User

Canoe EIT Income 4.80 Cumulative Redeemable Pref shs Series 1 > Excuse my ignorance

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Comment by Saint2709on Jan 18, 2023 9:55am

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RE:RE:Excuse my ignorance

Most if not all of those dividends collected are allocated towards the canoe prefferd shares, and not towards the canoe unit shares. Since canoe is actively managed and are constantly buying and selling shares within the portfolio, constantly taking advantage of selling overpriced or buying underpriced stocks the profits made are allocated towards the canoe units. And that is why our dividends collected at the end of the year are taxed in the form of capital gains, while the preferred shares dividends are taxed as dividend income. Hope that helps.

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