Brompton Split Banc Corp. has released its Annual Report to December 31, 2017.

SBC / SBC.PR.A Performance |

Instrument |
One Year |
Three Years |
Five Years |
Ten Years |

SBC |
+20.3% |
+16.4% |
+20.6% |
+14.1% |

SBC.PR.A |
+4.6% |
+4.6% |
+4.6% |
+5.0% |

Whole Unit |
+14.1% |
+11.5% |
+13.5% |
+10.0% |

S&P/TSX Capped Financials Index |
+13.3% |
+10.9% |
+14.3% |
+8.3% |

S&P/TSX Composite |
+9.1% |
+6.6% |
+8.6% |
+4.6% |

Figures of interest are:

MER: “The MER per unit, excluding Preferred share distributions, was 0.97% in 2017 and 0.99% for 2016. This

ratio is more representative of the ongoing efficiency of the administration of the Fund.”

Average Net Assets: We need this to calculate portfolio yield. MER of 0.97% Total Expenses of 2,160,416 implies $223-million net assets. Preferred Share distributions of 3,414,174 @ 0.50 / share implies 6.828-million shares out on average. Average Unit Value (beginning & end of year) = (24.46 + 23.10) / 2 = 23,67. Therefore 6.828-million @ 23.67 = 234-million average net assets. Good agreement – call it 228-million.

Underlying Portfolio Yield: Dividends received of 6.982-million divided by average net assets of 228-million is 3.06%

Income Coverage: Net Investment Income of 4.833-million divided by Preferred Share Distributions of 3.414-million is 142%.

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## SBC.PR.A : Annual Report 2017

Brompton Split Banc Corp. has released its Annual Report to December 31, 2017.

Year

Years

Years

Years

Figures of interest are:

MER: “The MER per unit, excluding Preferred share distributions, was 0.97% in 2017 and 0.99% for 2016. This

ratio is more representative of the ongoing efficiency of the administration of the Fund.”

Average Net Assets: We need this to calculate portfolio yield. MER of 0.97% Total Expenses of 2,160,416 implies $223-million net assets. Preferred Share distributions of 3,414,174 @ 0.50 / share implies 6.828-million shares out on average. Average Unit Value (beginning & end of year) = (24.46 + 23.10) / 2 = 23,67. Therefore 6.828-million @ 23.67 = 234-million average net assets. Good agreement – call it 228-million.

Underlying Portfolio Yield: Dividends received of 6.982-million divided by average net assets of 228-million is 3.06%

Income Coverage: Net Investment Income of 4.833-million divided by Preferred Share Distributions of 3.414-million is 142%.

This entry was posted on Saturday, April 14th, 2018 at 10:12 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.