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Premium Income Corporation Announces Overnight Offering of Preferred Shares
The shares pay $0.10625 monthly, or $1.275 a year, for an 8.50% yield on the original issue price, the fund said.
- On Tuesday, May 5, 2026, Premium Income Corporation announced an overnight treasury offering of 2,085,000 Preferred Shares priced at $16.36 per share.
- Projected gross proceeds total nearly $34.1 million, with the offering expected to close on or about May 14, 2026, subject to Toronto Stock Exchange approval.
- The Preferred Shares provide fixed cumulative preferential monthly cash distributions of $1.275 per annum, representing an 8.50% yield on the original issue price of $15.00.
- National Bank Financial Inc. leads the syndicate of agents for the offering, which closed at $16.46 on the TSX on May 5, 2026.
- A short form base shelf prospectus has been filed with securities commissions across Canada, and investors should review these documents before making investment decisions.
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R 20%
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