1
Derived from payout historyIncome reliability
Payout depends on structure rules
PIC-A.TO is structure-sensitive. The payout may look regular, but coverage tests and distribution conditions matter more than cadence alone.
Market dataIncome framework read
Split-Share / Structure-SensitiveTSXCanada
PIC-A.TO
Premium Income Corporation Class A
FinancialsSplit-share structureUnknown
Market Snapshot
$10.81
+$0.22 (2.08%)
Toronto
Yield
9.99%
Rate $1.08
Next Payment
Next pay in 4 days
Ex-date 2026-05-15
52wk Position
99.35%
-0.37% below high
Updated just now
Income Intelligence Summary
Deterministic interpretation from Prospyr's income framework and available market data.
2
Editorial frameworkDRIP defense
Default DRIP test is not defended
PIC-A.TO does not cover one full share per payment at the default 100-share test. Coverage is 0.83.
3
Editorial frameworkMain watch item
Structure coverage comes first
PIC-A.TO is structure-sensitive, so the main check is whether the split-share rules, asset coverage, and distribution conditions support the visible payout.
Decision Area
Distribution and DRIP Defense
Payout history, default DRIP coverage, and price creep pressure using market data where available.
Distribution Chart
Last 12 payments
Confirmed Expected
Coverage Ratio Test
DRIP defense check
- Cash
- $9.00
- APR
- 0.833
- Coverage
- 0.833
Rung failed. Restore immediately or rebalance the holding.
Price Creep
Defended price ceiling
- Max defended
- $9.00
- Cushion
- -$1.81
- Cushion %
- -16.74%
Current $10.81Break $9.00
Smart Recommendation
PIC-A.TO is not defended at these inputs; top up shares, lower TPR, or test alternatives.
Research Signals
Research in progress
DRIP availability
Pending
Tax character
Pending
Distribution history
Pending
Structure Overview
This is a split-share corporation, which separates the capital appreciation and dividend income of an underlying equity portfolio between two share classes: preferred shares (priority distributions) and capital shares (residual income and NAV growth). The leverage embedded in the capital-share structure amplifies both gains and losses; distributions can be suspended if the coverage ratio falls below regulatory thresholds.
Canadian Planning Notes
- 1Split-share preferred shares receive priority distributions but are not the same as bank-issued preferred shares; review the coverage ratio, asset coverage test, and termination date before planning.
- 2Distribution suspensions on capital units can happen quickly when the underlying portfolio declines; do not plan income around split-share capital units without stress-testing coverage.
- 3Tax character of split-share distributions varies; confirm the T5 breakdown annually as it may include capital gains, eligible dividends, or return of capital depending on the issuer.
Market Facts
Market Data
A factual market, distribution, valuation, and financial snapshot for this holding.
Market Data
Market data
Price
$10.81
Previous close
$10.59
Day range
$10.60 - $10.85
52wk range
$4.67 - $10.85
Market cap
207.6M
Volume
19.1K
Avg volume
50K
Exchange
Toronto
Dividend and distribution
Forward rate
$1.08
Trailing rate
$0.79
Forward yield
9.99%
Trailing yield
7.49%
Per payment
$0.09
Cadence
Monthly
Next ex-date
May 15, 2026
Next pay
May 29, 2026
Last dividend
$0.09
Last dividend date
May 15, 2026
Performance
Daily change
$0.22
Daily change %
2.08%
52wk position
99.35%
Below 52wk high
-0.37%
Above 52wk low
131.51%
Open
$10.60
Earnings and financials
Trailing EPS
4.36
Forward EPS
N/A
Revenue
108.9M
Revenue growth
1.28%
Profit margin
77.26%
Operating margin
97.68%
Payout ratio
N/A
Free cash flow
57M
Total cash
421.3M
ROE
67.19%
ROA
15.94%
Debt/equity
150.96
Beta
1.17
Valuation
Trailing P/E
2.48
Forward P/E
N/A
Price/sales
1.91
Price/book
1.32
Enterprise value
50.5M
EV/EBITDA
N/A
Analyst facts
Target mean
N/A
Target high
N/A
Target low
N/A
Recommendation mean
N/A
Recommendation key
none
Analysts
N/A
Canadian Context
Account placement
TFSA
Mixed-character distributions are usually easiest to handle in a TFSA because annual tax reporting is avoided.
RRSP: Also shelters distribution complexity.
Non-registered: Review T3 or issuer tax breakdown before using a taxable account.
Eligible dividend tax credit
- Total credit
- $345.27
- Effective rate
- 34.53%
Broker DRIP status
Questrade
Available
Wealthsimple
Available
RBC Direct Investing
Available
TD Direct Investing
Available
Run Your Numbers
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This profile is informational only and does not constitute licensed financial advice. Signal values, planning notes, market data, and structure summaries may not reflect the most current issuer disclosures. Always verify current payout policy, ex-dividend dates, financial statements, and issuer communications before making any investment decision.