Source - RNS
RNS Number : 6847L
Middlefield Canadian Inc PCC
04 October 2016


London, UK, 4 October 2016

Edison issues initiation on Middlefield Canadian Income (MCT)


Middlefield Canadian Income (MCT) invests in a broad selection of primarily Canadian and selected US equities, aiming to generate a high level of sustainable dividends and long-term capital growth. The fund is traded on the Main Market of the London Stock Exchange. MCT is benchmarked against the S&P/TSX Composite High Dividend index, but the managers are not constrained by its composition. The fund currently has significant exposure to the pipelines, power & utilities, real estate, financials and energy sectors. MCT pays a regular dividend of 1.25p per quarter; its current dividend yield is 5.4%.


During 2015, MCT's share price discount to NAV widened due to a period of weak commodity prices and a slowing Canadian economy. The current discount of 14.9% is wider than the average of the last 12 months and wider than the averages of the last three, five and 10 years. There is potential for the discount to narrow if MCT outperforms its benchmark for a meaningful period or if investor demand for Canadian equities increases. MCT pays a regular quarterly dividend of 1.25p; the annual dividend of 5.0p equates to a yield of 5.4%.

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