Canoe EIT Income Fund
17.75
CAD
-0.07
(-0.39%)
Canoe EIT Income Fund
TSX:EIT.UN
(Toronto Stock Exchange)
Recent
price
17.75
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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- Business
- Canoe EIT Income Fund (TSX: EIT-UN) is a Canada-based closed-end balanced investment trust that seeks to maximize monthly distributions relative to risk and net asset value growth while maintaining a diversified portfolio. Launched on August 5, 1997, and headquartered in Calgary, Alberta, the fund invests primarily in public equity and fixed income markets of Canada and the United States, targeting growth and value stocks of mid-cap and large-cap companies across diversified sectors including financials, energy, health care, materials, industrials, consumer discretionary, information technology, real estate, and consumer staples; its core holdings encompass dividend-paying common stocks, preferred shares, debentures, and equity and debt securities of royalty and income trusts, corporations, partnerships, or other issuers. The fund is managed by Canoe Financial LP, with co-management historically provided by Haber Trilix Advisors LP, and operates without a fixed termination date, focusing on income-generating securities through a disciplined process emphasizing quality issuers at reasonable valuations. In recent developments, the fund renewed its at-the-market equity program in 2024, enabling issuance of up to $625 million in units at the manager's discretion to support portfolio management and capital raising. It conducted its 2024 annual voluntary cash redemption on December 6, 2024, redeeming a minimal 0.02% of outstanding units at $15.17 per unit, well below the 10% cap, reflecting strong unitholder retention amid ongoing monthly distributions of $0.10 per unit. Additionally, in late 2024 and early 2025, the fund announced special non-cash distributions, including $0.45 per unit for unitholders of record on December 31, 2024, payable January 15, 2025, alongside its standard 2025 annual redemption price announcement, underscoring continued emphasis on distribution enhancement and operational stability. Formerly known as EnerVest Diversified Income Trust, the fund maintains its focus on North American markets without noted recent acquisitions, partnerships, or major strategic shifts beyond routine redemptions and distribution programs.