{"id":52104,"date":"2026-06-29T19:46:11","date_gmt":"2026-06-29T23:46:11","guid":{"rendered":"https:\/\/prefblog.com\/?p=52104"},"modified":"2026-06-29T19:46:11","modified_gmt":"2026-06-29T23:46:11","slug":"pic-pr-a-capital-unit-split-preferred-offering","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=52104","title":{"rendered":"PIC.PR.A: Capital Unit Split, Preferred Offering"},"content":{"rendered":"

Mulvihill has announced<\/a> (on 2026-6-23):<\/p>\n

Premium Income Corporation (the \u201cFund\u201d) is pleased to announce its intention to complete a share split of its class A shares (the \u201cShare Split) due to the Fund\u2019s strong performance. The holders of class A shares of record on the close of business on June 29, 2026 will receive 20 additional class A shares for every 100 Class A shares held, pursuant to the Share Split. The Share Split is subject to the approval by the Toronto Stock Exchange (the \u201cTSX\u201d).<\/p>\n

As a result of the Share Split, the total dollar amount of distributions to be paid to the holders of Class A shares is expected to increase by approximately 20%.<\/p>\n

The Class A shares are expected to commence trading on an ex-split basis at the opening of trading on June 29, 2026. No fractional Class A shares will be issued, and the number of Class A shares each holder shall receive will be rounded down to the nearest whole number. The Share Split is a non-taxable event. The impact of the Share Split will be reflected in the net asset value per Class A share as of July 9, 2026.<\/p>\n

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at info@mulvihill.com or visit www.mulvihill.com<\/p><\/blockquote>\n

This announcement comes hard on the heels of the 2026-5-5 announcement<\/a> of a 110-new-for-100-old Capital Unit Split. <\/p>\n

They have now announced<\/a>:<\/p>\n

Premium Income Corporation (the \u201cFund\u201d) is pleased to announce that it is undertaking an overnight treasury offering of Preferred Shares (the \u201cOffering\u201d).<\/p>\n

The offering is expected to close on or about July 8, 2026, and is subject to certain closing conditions including approval by the Toronto Stock Exchange (\u201cTSX\u201d). The Preferred Shares will be offered at a price of $16.30 per Preferred Share. The trading price on the TSX for the Preferred Shares as at the last trade on June 26, 2026 was $16.56. Since the inception of the Fund, the aggregate dividends declared on the Preferred Shares have been $26.49 per share.<\/p>\n

The Fund 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. To generate additional returns above the dividend income earned on the Fund\u2019s portfolio, the Fund will selectively write covered call and put options in respect of some or all of the common shares in the Fund\u2019s portfolio. The manager and investment manager of the Fund is Mulvihill Capital Management Inc.<\/p>\n

The Preferred Shares pay fixed cumulative preferential monthly cash distributions in the amount of $0.10625 ($1.275 per annum) per Preferred Share representing a yield of 8.50% on the original issue price of $15.00.<\/p>\n

The syndicate of agents for the offering is being led by National Bank Financial Inc.<\/p>\n

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at info@mulvihill.com or visit www.mulvihill.com<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Mulvihill has announced (on 2026-6-23): Premium Income Corporation (the \u201cFund\u201d) is pleased to announce its intention to complete a share split of its class A shares (the \u201cShare Split) due to the Fund\u2019s strong performance. …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-52104","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52104"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52104\/revisions"}],"predecessor-version":[{"id":52105,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52104\/revisions\/52105"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}