Canoe EIT Income Fund (TSE:EIT.UN) Hits New 12-Month High – What’s Next?

Canoe EIT Income Fund (TSE:EIT.UN)’s share price reached a new 52-week high during mid-day trading on Thursday. The company traded as high as C$17.95 and last traded at C$17.91, with a volume of 12,580 shares changing hands. The stock had previously closed at C$17.79.

Canoe EIT Income Fund Trading Down 0.2%

The firm has a 50 day moving average price of C$17.60 and a two-hundred day moving average price of C$17.21. The firm has a market capitalization of C$3.44 billion, a price-to-earnings ratio of 5.93 and a beta of 0.26.

Canoe EIT Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 13th will be given a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend is Thursday, October 22nd. Canoe EIT Income Fund’s dividend payout ratio is presently 39.87%.

Canoe EIT Income Fund Company Profile

The investment objectives of the Fund are to maximize monthly distributions relative to risk and maximize Net Asset Value, while maintaining and expanding a diversified investment portfolio, primarily through acquiring, investing, holding, transferring, disposing of or otherwise dealing with or in equity and debt securities of corporations, partnerships, or other issuers and such other investments as the Manager may determine in its sole discretion from time to time. The investment objectives set forth above may be achieved through direct acquisitions, investments or, at the election of the Manager, through exchange offers completed by the Fund from time to time.