Canoe EIT Income Fund
ENDTF
Other OTC- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Rafi G. Tahmazian
- Full Time Employees
- 98
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Suite 3900, 350 - 7th Avenue South West Calgary AB Canada T2P 3N9
- IPO Date
- Mar 31, 2004
- Website
- canoefinancial.com
- Similar Companies
- Business
- Canoe EIT Income Fund (ENDTF) is a Canadian closed-end balanced investment trust that seeks to maximize monthly distributions relative to risk and maximize net asset value growth while maintaining a diversified portfolio. Launched on August 5, 1997, as EnerVest Diversified Income Trust and managed by Canoe Financial LP since November 2010, the fund is headquartered in Calgary, Alberta, with Canoe Financial maintaining additional offices in Toronto and Montreal. It invests primarily in public equity and fixed income markets across Canada and the United States, targeting growth and value stocks of mid-cap and large-cap companies; equity and debt securities of royalty and income trusts, corporations, partnerships, and other issuers; publicly traded real estate investment trusts; qualified limited partnerships; corporate debt; convertible debentures; and preferred shares across diversified industries and geographic regions. The fund's portfolio emphasizes income-producing investments, including key holdings such as Tourmaline Oil Corp, Wells Fargo & Co, and Canadian National Railway Co, with income from dividends, interest, and capital gains supporting regular monthly distributions to unitholders. Co-managed historically by Haber Trilix Advisors LP and actively managed by Robert Taylor, Senior Vice President and Chief Investment Officer at Canoe Financial, it operates without leverage and focuses on sectors like energy, financials, industrials, and real estate. Units trade on the Toronto Stock Exchange under EIT.UN, with preferred shares EIT.PR.A and EIT.PR.B, and over-the-counter as ENDTF. In recent developments, Canoe EIT Income Fund renewed its at-the-market equity program in 2024, enabling the issuance of up to $625 million in units at management's discretion. The fund announced its 2024 annual voluntary cash redemption results in November 2024, redeeming a minimal 0.02% of outstanding units at $15.17 per unit, and set the 2025 annual redemption price while declaring December 2025 monthly distributions and a special non-cash distribution of $0.45 per unit for unitholders of record on December 31, 2024. These actions reflect ongoing efforts to manage capital structure, enhance liquidity, and sustain distribution policies amid market conditions.