Premium Income Corporation (TSE:PIC.A) Shares to Pay Monthly Dividend of $0.09

Premium Income Corporation (TSE:PIC.A) announced a monthly dividend on Friday, November 13th. Stockholders of record on Monday, November 30th will be paid a dividend of $0.09 per share on Monday, November 30th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date of this dividend is Friday, November 13th.

Premium Income Stock Up 1.4%

Shares of PIC.A stock traded up C$0.14 on Wednesday, reaching C$10.11. 4,956 shares of the stock were exchanged, compared to its average volume of 61,352. The company has a current ratio of 1.18, a quick ratio of 1.45 and a debt-to-equity ratio of 562.70. The business’s 50 day moving average price is C$9.71 and its 200 day moving average price is C$9.92. The company has a market capitalization of C$211.82 million, a price-to-earnings ratio of 1.48 and a beta of 1.20. Premium Income has a twelve month low of C$5.48 and a twelve month high of C$11.31.

About Premium Income

to provide Class A shareholders with quarterly cash distributions equal to the amount, if any, by which the net realized capital gains, dividends and option premiums (other than option premiums in respect of options outstanding at year-end) earned on the Funds portfolio in any year, net of expenses and loss carry forwards, exceed the amount of the distributions paid on Class A shares upon windup of the Fund To accomplish its objectives, the Fund invests at least 75 percent of its net asset value (“NAV) in common shares of the Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and The Toronto-Dominion Bank (collectively, the “Banks) and may also invest up to 25 percent of its NAV in common shares of National Bank of Canada.