Premium Income Corporation Class A
9.46
CAD
-0.07
(-0.73%)
Premium Income Corporation Class A
TSX:PIC.A
(Toronto Stock Exchange)
Recent
price
9.46
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.Semi-annual Earnings Per Share
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- Business
- Premium Income Corporation functions as a Canadian split share corporation, operating under the management of Mulvihill Capital Management Inc.. The fund directs its investments towards the public equity markets of Canada, concentrating on the banking sector. Its core holdings primarily include common shares of leading financial institutions such as Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, and The Toronto-Dominion Bank, with the flexibility to allocate up to 25% of its net asset value to National Bank of Canada common shares. To enhance portfolio income and mitigate volatility, the fund employs a quantitative, proprietary covered call writing strategy and may also write cash-covered put options. Its objectives are to provide cumulative preferential quarterly cash distributions to its Preferred shareholders and quarterly cash distributions to Class A shareholders from realized capital gains, dividends, and option premiums, in addition to returning the original issue price to both share classes upon the fund's wind-up. Performance of the portfolio is evaluated against the S&P/TSX Diversified Banks Total Return Index. Premium Income Corporation was established on August 27, 1996, and maintains its domicile in Canada.