Premium Income Corporation Announces Year End Results
19 Dezembro 2013 - 7:03PM
Marketwired
Premium Income Corporation Announces Year End Results
TORONTO, ONTARIO--(Marketwired - Dec 19, 2013) - Premium Income
Corporation (TSX:PIC.A) (TSX:PIC.PR.A) today announces results for
the year ended October 31, 2013. Net income during the year was
$21.7 million or $2.23 per Class A share. Net assets as of October
31, 2013 were $21.94 per Unit after cash distributions of $0.86 per
Preferred share and $0.81 per Class A share. Each Unit consists of
one Preferred share and one Class A share.
Premium Income
Corporation is a mutual fund corporation, which invests in the
common shares of Bank of Montreal, The Bank of Nova Scotia,
Canadian Imperial Bank of Commerce, Royal Bank of Canada, and the
Toronto Dominion Bank. The Fund employs a proprietary investment
strategy, Strathbridge Selective Overwriting, to enhance the income
generated by the portfolio and to reduce volatility. In addition,
the Fund may write cash covered put options in respect of
securities in which it is permitted to invest.
Selected Financial Information: ($Millions) |
|
|
|
|
|
Statement of Financial Position |
2013 |
|
Assets |
$214.7 |
|
Liabilities |
147.0 |
|
Equity |
$67.7 |
|
|
|
|
Statement of Operations |
|
|
Revenue |
$8.4 |
|
Expenses |
(2.7 |
) |
Preferred Share Distributions |
(8.4 |
) |
Net Investment Loss |
(2.7 |
) |
Net Gain on Investments |
24.4 |
|
Net Income |
21.7 |
|
For further information, please contact Investor Relations at
416.681.3966, toll free at 1.800.725.7172 or visit
www.strathbridge.com.
Commissions, trailing commissions, management fees and
expenses all may be associated with investment funds. Please read
the prospectus before investing. Investment funds are not
guaranteed, their values change frequently and past performance may
not be repeated.
Strathbridge Asset Management Inc.Aaron HoVice-President,
Finance416.681.3966 or 1.800.725.7172Strathbridge Asset Management
Inc.121 King Street West - Suite 2600Toronto, Ontario, M5H
3T9info@strathbridge.comwww.strathbridge.com
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