Exchange: TSX·Updated 03:59 PM EDT
About PIC.A.TSX
Premium Income Corporation is a split share fund that invests primarily in common shares of the major Canadian banks. The company structures its securities as Preferred Shares and Capital Shares to separate income generation from capital appreciation objectives. It uses covered call option writing on its underlying bank share portfolio to enhance portfolio income and help manage volatility. Preferred Shares are designed to provide fixed cumulative monthly cash distributions based on the underlying holdings. Capital Shares are designed to give investors leveraged exposure to the potential capital appreciation of the bank share portfolio. The fund is managed by Mulvihill Capital Management, which oversees portfolio construction, option strategies, and ongoing distributions.