Premium Income Corporation Announces Semi-Annual Results

Core Insights - Premium Income Corporation reported a decrease in net assets attributable to holders of Class A shares amounting to $5.7 million or $0.38 per Class A share for the six months ended April 30, 2025 [1] - The net assets attributable to holders of Class A shares as of April 30, 2025, were $81.2 million or $5.12 per Class A share [1] - Cash distributions during the period were $0.64 per Preferred share and $0.48 per Class A share [1] Financial Performance - The Fund's income, including net loss on investments, was $5.9 million for the six months ended April 30, 2025 [4] - Total expenses for the same period were $1.9 million, resulting in an operating profit of $4.0 million [4] - Preferred share distribution amounted to $9.7 million, contributing to the decrease in net assets attributable to Class A shares [4] Investment Strategy - Premium Income Corporation primarily invests in common shares of major Canadian banks, including Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, and Toronto Dominion Bank [2] - The Fund employs an active covered call writing strategy to enhance income and reduce volatility [2] - The Fund may also write cash covered put options on permitted securities [2] Management - The investment portfolio is managed by Mulvihill Capital Management Inc. [3] - 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 [3]