Mulvihill Premium Canadian Bank: Announces Year End Results
04 Gennaio 2008 - 10:03PM
Marketwired
TORONTO, ONTARIO (TSX: PIC.PR.A)(TSX: PIC.A) today announces
results for the year ended October 31, 2007. Net realized income
before Preferred share transactions amounted to $46.3 million or
$2.43 per Unit. Distributions to shareholders amounted to $0.87 per
Preferred share, and $1.20 per Class A share.
Each Unit consists of one Class A share and one Preferred share.
Distributions to Class A shareholders included additional special
distributions of $0.10 for each Class A Share in each of January,
April, July and October, 2007. The Company's dividend policy on the
Class A Shares has been set at an annual rate of $0.80 per
Share.
Mulvihill Premium Canadian Bank is a mutual fund corporation,
which invests in the common shares of Bank of Montreal, The Bank of
Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of
Canada, and the Toronto Dominion Bank. To generate additional
returns above the dividend income earned on the portfolio, the
Company will from time to write covered call options in respect of
all or part of the common shares in the Portfolio. In addition, the
Company may write cash covered put options in respect of securities
in which the Company is permitted to invest.
The Fund's investment portfolio is managed by its investment
manager, Mulvihill Capital Management Inc. The Company's Preferred
and Class A Shares are listed on The Toronto Stock Exchange under
the symbols PIC.PR.A and PIC.A.
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Selected Financial Information : ($ Millions)
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Statement of Net Assets 2007
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Assets $ 499.2
Liabilities 288.2
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Net Assets (Unitholders Equity) $ 211.0
Statement of Financial Operations
Income $ 18.0
Expenses (5.7)
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Net Investment Income $ 12.3
Net Gain on Investments 34.0
Net Realized Income Before Preferred Share Transactions $46.3
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A member of the Mulvihill Capital Management Inc. Group of
Funds
Contacts: Mulvihill Structured Products John Mulvihill President
& CEO (416) 681-3966 or 1-800-725-7172 Mulvihill Structured
Products Donald Biggs Senior Vice President (416) 681-3966 or
1-800-725-7172 Email: hybrid@mulvihill.com Website:
www.mulvihill.com
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