Premium Income Corp T.PIC.A

Announcement

[Eizenberg]

The class A shares will give 0.96$ per annum versus 0.80$ per annum and div. will be paid monthly (0.08$) instead of quaterly (0.20$). This is great news.

[Donwaan]

I hope you're right and the market sees it as great news! Although the annual distribution is higher your share count is .67 of what it was before consolidation. Being paid monthly is a welcome plus though.

[wolverine99]

Hard to imagine a 21% decline in the Divy will be received as a positive, but markets are not always rationale!!

[oldtrustguy]

Have I got this right?? On Friday 1000 shares would buy at 4.36 = $4360.00 now 670 shares divided into $4360 = $6.50 new share price to break even . 1000 shares paid .20319 paid per quarter = 203.19 per quarter . if paid monthly = 67.73 1000 shares is now 670 shares . paying 0.08 per month = 53.60 67.73  less 53.60 = 14.13  thats  .2086 % less income. Shares closed Friday at 4

[oldtrustguy]

Have I got this right?? On Friday 1000 shares would buy at 4.36 = $4360.00 now 670 shares divided into $4360 = $6.50 new share price to break even . 1000 shares paid .20319 paid per quarter = 203.19 per quarter . if paid monthly = 67.73 1000 shares is now 670 shares . paying 0.08 per month = 53.60 67.73@ less 53.60 = 14.13@ thats@ .2086 % less income. Shares closed Friday at 4.36@ @NAV on

[oldtrustguy]

Sorry my post did not come out as I listed it. 

[oldbrit34]

A 20% haircut to the dividend usually means some selling pressure when the deal takes place on November 12th. Thus we could expect to see the share price fall , but by how much depends on how much people are unhappy with this dividend cut. Going from quarterly to monthly may help the price somewhat. I notice that Mulvihill said. " they were pleased to announce " . First time ever I have

[jicoop]

Yes, agree why PLEASED TO ANNOUNCE, this is a haircut any way you slice it. Only silver lining here is that didvidend rate was well above average for some time, and will now be more in line with other split class A share offerings. I own many at the moment, DGS, FTN to name a couple. Coop