{"id":415967,"date":"2021-01-15T16:04:30","date_gmt":"2021-01-15T21:04:30","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=415967"},"modified":"2021-01-15T16:04:30","modified_gmt":"2021-01-15T21:04:30","slug":"premium-income-corporation-announces-year-end-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/premium-income-corporation-announces-year-end-results\/","title":{"rendered":"Premium Income Corporation Announces Year End Results"},"content":{"rendered":"
\n

TORONTO, Jan. 15, 2021 (GLOBE NEWSWIRE) — (TSX: PIC.A; PIC.PR.A)<\/strong> Premium Income Corporation today announces results of operations for the fiscal year ended October 31, 2020. Decrease in net assets attributable to holders of Class A shares amounted to $57.1 million or $4.24 per Class A share. Net assets attributable to holders of Class A shares were $12.8 million or $0.95 per Class A share. Cash distributions of $0.86 per Preferred share and $0.50 per Class A share were paid during the year.<\/p>\n

Premium Income Corporation is a mutual fund corporation, which invests in a portfolio consisting principally of common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, 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.\u00a0\u00a0<\/p>\n

The investment portfolio of the Fund is managed by its investment manager, Strathbridge Asset Management Inc. The Fund\u2019s Preferred and Class A shares are listed on the Toronto Stock Exchange under the symbols PIC.PR.A and PIC.A respectively.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Selected Financial Information: ($ Millions)<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n Statement of Financial Position<\/em>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\n
\n 2020<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
\n
\n As at October 31<\/em>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Assets<\/td>\n\u00a0<\/td>\n$\u00a0<\/td>\n\u00a0215.5<\/td>\n\u00a0<\/td>\n<\/tr>\n
Liabilities<\/td>\n\u00a0<\/td>\n\n (202.7<\/u>\n <\/td>\n\n )<\/u>\n <\/td>\n<\/tr>\n
Net Assets Attributable to\u00a0Holders of Class A Shares<\/td>\n\u00a0<\/td>\n$\u00a0<\/td>\n\n 12.8<\/u>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n Statement of Comprehensive Income<\/em>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n Year ended October 31<\/em>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss<\/td>\n\u00a0<\/td>\n$\u00a0<\/td>\n(42.3<\/td>\n)<\/td>\n<\/tr>\n
Expenses<\/td>\n\u00a0<\/td>\n\n (3.2<\/u>\n <\/td>\n\n )<\/u>\n <\/td>\n<\/tr>\n
Operating Loss<\/td>\n\u00a0<\/td>\n(45.5<\/td>\n)<\/td>\n<\/tr>\n
Preferred Share Distributions<\/td>\n\u00a0<\/td>\n\n (11.6<\/u>\n <\/td>\n\n )<\/u>\n <\/td>\n<\/tr>\n
Increase in Net Assets Attributable to Holders of Class A Shares<\/td>\n\u00a0<\/td>\n$\u00a0<\/td>\n(57.1<\/td>\n)<\/td>\n<\/tr>\n<\/table>\n

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit www.strathbridge.com<\/a>.<\/p>\n\n\n
John Germain, Senior Vice President & CFO<\/td>\n\n Strathbridge Asset Management Inc.<\/strong>
\n
121 King Street West
Suite 2600
Toronto, Ontario, M5H 3T9
416.681.3966; 1.800.725.7172
www.strathbridge.com<\/a>
info@strathbridge.com<\/a><\/td>\n<\/tr>\n<\/table>\n

\n
\n
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.<\/em>
\n \n <\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

TORONTO, Jan. 15, 2021 (GLOBE NEWSWIRE) — (TSX: PIC.A; PIC.PR.A) Premium Income Corporation today announces results of operations for the fiscal year ended October 31, 2020. Decrease in net assets attributable to holders of Class A shares amounted to $57.1 million or $4.24 per Class A share. Net assets attributable to holders of Class A shares were $12.8 million or $0.95 per Class A share. Cash distributions of $0.86 per Preferred share and $0.50 per Class A share were paid during the year. Premium Income Corporation is a mutual fund corporation, which invests in a portfolio consisting principally of common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal … <\/p>\n

Continue reading “Premium Income Corporation Announces Year End Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-415967","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPremium Income Corporation Announces Year End Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/premium-income-corporation-announces-year-end-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Premium Income Corporation Announces Year End Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TORONTO, Jan. 15, 2021 (GLOBE NEWSWIRE) — (TSX: PIC.A; PIC.PR.A) Premium Income Corporation today announces results of operations for the fiscal year ended October 31, 2020. Decrease in net assets attributable to holders of Class A shares amounted to $57.1 million or $4.24 per Class A share. Net assets attributable to holders of Class A shares were $12.8 million or $0.95 per Class A share. Cash distributions of $0.86 per Preferred share and $0.50 per Class A share were paid during the year. 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