Premium Income Corporation Announces Semi-Annual Results

TORONTO, June 25, 2019 (GLOBE NEWSWIRE) -- (TSX: PIC.A; PIC.PR.A) Premium Income Corporation (the “Fund”) announces results of operations for the six months ended April 30, 2019. Increase in net assets attributable to holders of Class A shares amounted to $10.1 million or $0.91 per Class A share. Net assets attributable to holders of Class A shares as at April 30, 2019 were $71.7 million or $6.25 per Class A share. Cash distributions of $0.43 per Preferred share and $0.41 per Class A share were paid during the period.

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. In addition, the Fund may write cash covered put options in respect of securities in which it is permitted to invest.

The investment portfolio of the Fund is managed by its investment manager, Strathbridge Asset Management Inc. The Fund’s Preferred and Class A shares are listed on Toronto Stock Exchange under the symbols PIC.PR.A and PIC.A respectively.

Selected Financial Information: ($ Millions)
Statement of Comprehensive Income For the Six Months ended April 20, 2019 (Unaudited)
Income (including Net Gain on Investments)	$	16.4
Expenses		-1.5
Operating ProfitPreferred Share Distribution	$$	14.9-4.8
Increase in Net Assets Attributable to Holders of Class A Shares	$	10.1

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit www.strathbridge.com.

John Germain, Senior Vice-President & CFO

Strathbridge Asset Management Inc.121 King Street WestSuite 2600Toronto, Ontario, M5H 3T9416.681.3966; 1.800.725.7172

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.

Source: Premium Income Corporation

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