Mulvihill Premium Canadian Bank

Mulvihill Premium Canadian Bank
Mulvihill Capital Management Inc.

Mulvihill Capital Management Inc.

January 04, 2005 16:03 ET

Mulvihill Premium Canadian Bank: Special Dividend, Quarterly Dividends Declared


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MULVIHILL PREMIUM CANADIAN BANK

TSX SYMBOL: PIC.A
TSX SYMBOL: PIC.PR.A

JANUARY 4, 2005 - 16:03 ET

Mulvihill Premium Canadian Bank: Special Dividend,
Quarterly Dividends Declared

TORONTO, ONTARIO--(CCNMatthews - Jan. 4, 2005) - Mulvihill Premium
Canadian Bank (TSX:PIC.PR.A) (TSX:PIC.A) (the "Fund") has declared its
quarterly dividends of $0.219984 on each of its Preferred Shares and
$0.20 on each of its Class A shares, payable January 31, 2005 to
shareholders of record as of January 17, 2005. In addition, the Fund has
declared a special dividend on each of its Class A shares of $0.10
payable on the same date for a total dividend of $0.30 to Class A
shareholders. The amount of the dividend may be subject to minor
adjustment.

Mulvihill Premium Canadian Bank is a mutual fund corporation which
invests in the common shares of Bank of Montreal, The Bank of Nova
Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, and
The Toronto-Dominion Bank. To generate additional returns above the
dividend income earned on the Portfolio, the Fund may from time to time,
write covered call options in respect of all or part of the common
shares in the Portfolio. In addition, the Fund may write cash covered
put options in respect of securities in which the Fund is permitted to
invest.

The Fund's investment portfolio is managed by its investment manager,
Mulvihill Capital 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.



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Distribution Details :
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Dividend per Preferred Share: $0.219984
Regular Dividend per Class A Share: $0.20
Special Dividend per Class A Share: $0.10
Payable Date: January 31, 2005
Record Date: January 17, 2005
Ex-Dividend Date: January 13, 2005
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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Mulvihill Capital Management
    John Mulvihill
    President & CEO
    (416) 681-3966
    or
    Mulvihill Structured Products
    Bruce Graham
    Vice President
    (416) 681-3966 or (800) 725-7172
    hybrid@mulvihill.com
    www.mulvihill.com
    A member of the Mulvihill Capital Management Inc. Group of Funds