Premium Income Corporation Announces Year End Results

TORONTO, Jan. 12, 2018 (GLOBE NEWSWIRE) --

Premium Income Corporation (TSX:PIC.A)(TSX:PIC.PR.A) today announces results of operations for the fiscal year ended October 31, 2017.  Increase in net assets attributable to holders of Class A shares amounted to $31.9 million or $2.99 per Class A share.  Net assets attributable to holders of Class A shares were $87.1million or $8.18 per Class A share.  Cash distributions of $0.86 per Preferred share and $0.81 per Class A share were paid during the year. 

Premium Income Corporation is a mutual fund corporation, which invests in a portfolio consisting principally of common shares of 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.  The Fund employs a proprietary investment strategy, Strathbridge Selective Overwriting, to enhance the income generated by the portfolio and to reduce volatility. 

The investment portfolio of the Fund is managed by its investment manager, Strathbridge Asset Management Inc.  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.

Selected Financial Information: ($ Millions)
Statement of Financial Position		2017
As at October 31
Assets	$	247.0
Liabilities		(159.9	)
Net Assets Attributable to
Holders of Class A Shares	$	87.1
Statement of Comprehensive Income
Year ended October 31
Income	$	44.0
Expenses		(2.9	)
Operating Profit		41.1
Preferred Share Distributions		(9.2	)
Increase in Net Assets Attributable
to Holders of Class A Shares	$	31.9

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit www.strathbridge.com.

John Germain, Senior Vice President & CFO

Strathbridge Asset Management Inc.
121 King Street West
Suite 2600
Toronto, Ontario, M5H 3T9
416.681.3966; 1.800.725.7172
www.strathbridge.com