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.

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Premium Income Corp

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Post by Donwaanon Aug 20, 2024 9:46am

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Analysts upbeat as TD kicks off Q3 results

Most analysts expect the banks to report positive numbers, but some concerns remain as the provisions for credit losses are likely to have increased. Analysts expect the BMO in particular to be affected as one of its customers in the United States declared bankruptcy. https://www.stockwatch.com/News/Item/Z-C!BMO-3589868/C/BMO

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