Premium Income Corporation Announces Overnight Offering of Preferred Shares

Core Viewpoint - Premium Income Corporation is conducting an overnight treasury offering of Preferred Shares, with the sales period ending on January 22, 2026, and expected closure around January 29, 2026, pending approval from the Toronto Stock Exchange [1][2]. Group 1: Offering Details - The Preferred Shares are priced at $16.20 each, while the last trading price on the TSX was $16.46 as of January 21, 2026 [2]. - Since inception, the Fund has declared aggregate dividends of $25.96 per Preferred Share [2]. - The Preferred Shares provide fixed cumulative preferential monthly cash distributions of $0.10625, equating to $1.275 annually, which represents an 8.50% yield based on the original issue price of $15.00 [4]. Group 2: Investment Strategy - The Fund 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 The Toronto-Dominion Bank [3]. - To enhance returns beyond dividend income, the Fund selectively writes covered call and put options on some or all common shares in its portfolio [3]. Group 3: Management and Contact Information - The manager and investment manager of the Fund is Mulvihill Capital Management Inc. [3]. - For further inquiries, Investor Relations can be contacted via phone or email, with additional information available on the company's website [4].