Premium Income Corporation Announces Year End Results

TORONTO, Jan. 28, 2019 (GLOBE NEWSWIRE) -- (TSX: PIC.A; PIC.PR.A) Premium Income Corporation today announces results of operations for the fiscal year ended October 31, 2018.   Decrease in net assets attributable to holders of Class A shares amounted to $15.6 million or $1.56 per Class A share.  Net assets attributable to holders of Class A shares were $58.1 million or $5.81 per Class A share.  Cash distributions of $0.86 per Preferred share and $0.81 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 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. 

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 the Toronto Stock Exchange under the symbols PIC.PR.A and PIC.A respectively.

Selected Financial Information: ($ Millions)
		2018
Statement of Financial Position	$	210.2
As at October 31		(152.1	)
Assets
Liabilities	$	58.1
Net Assets Attributable to
Holders of Class A Shares
Statement of Comprehensive Income	$	(4.0	)
Year ended October 31		(3.0	)
Loss		(7.0	)
Expenses		(8.6	)
Operating Loss
Preferred Share Distributions	$	(15.6	)
Decrease in Net Assets Attributable
to Holders of Class A Shares

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; 1.800.725.7172www.strathbridge.com[email protected]

Source: Premium Income Corporation

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• AV’s LOCUST® Selected for Nearly $500 million Army Counter-UAS Contract for Enduring-High Energy Laser (E-HEL) Program
• SKYWORTH USA Names Performance Plus Marketing its 2026 Manufacturer's Representative of The Year Award
• National Domestic Violence Hotline Answers 8 Millionth Contact, Launches ‘8 Million Moments of Hope’ Campaign