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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 > With the preferred shares
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Comment by elonmuskrat247on Sep 02, 2024 9:31am
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Post# 36205093

RE:With the preferred shares

RE:With the preferred sharesI would assume that would be the case. However, the news release is not clear on that point. The bigger question is if the common distribution will be reduced by the 0.034375 cents/month given to the preferred shares? Again, the news release seems incomplete to me. Are they being vague on purpose or just a really badly worded news report. 
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