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 > NAV

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Comment by CStewart98on Dec 15, 2023 12:39pm

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Post# 35786967

RE:NAV

wolverine99 wrote: Did not even know about this Fund, one of the contributors mentioned it in a post for another fund.

Seems like a bit of a Diamond in the Rough, but if you have been in other Splits like DFN, FTN, BK, LCS etc. you get NAV sensitive. This Fund has had some ridiculously low NAV's but still issued a payout, albeit reduced. Does anybody know how their NAV calc works? Thanks for any insight.

I've been following the same splits and someone mentionned this one a while back and I jumped in at $4. Another quarterly one is FSZ, it just had a run up and has been consistently paying. I'm hoping this one does another run since it should pay in January.

GL

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