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TORONTO, March 27, 2024 (GLOBE NEWSWIRE) — (TSX: WFS; WFS.PR.A) World Financial Split Corp. (the “Fund”) announces its results for the year ended December 31, 2023. The increase in net assets from operations attributable to holders of Class A stock was $0.29 million, or $0.33 per Class A share. As of December 31, 2023, net assets attributable to holders of our Class A Shares were $1.3 million, or $1.51 per Class A Share. During the year, cash dividends were paid to preferred stockholders totaling $0.47 million or $0.53 per preferred share.
The Fund is an investment trust company that invests in a portfolio (the “Portfolio Universe”) of common stocks selected from the top 10 companies by market capitalization in Canada, the United States, and other countries around the world. ”). Issuers of securities in the portfolio, other than Canadian issuers, have a minimum credit rating of ‘A’ by Standard & Poor’s Rating Services, or an equivalent rating from a comparable rating agency. must be.
In addition, up to 25% of the Fund’s net asset value may be invested in common stocks of financial services or real estate companies that are not included in the portfolio universe. However, only if such company has a market capitalization at the time of investment. At least $10 billion and, for non-Canadian issuers, a minimum credit rating of ‘A-‘ from Standard & Poors Rating Services, or an equivalent rating from a comparable rating agency.
The Fund employs an active covered call strategy to enhance the returns and reduce volatility generated by the portfolio.
The Fund’s investment portfolio is managed by its investment manager, Mulvihill Capital Management, Inc. The Fund’s preferred shares and Class A shares are listed on the Toronto Stock Exchange under the following symbols: WFS.PR.A and WFS Each.
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Selected financial information: ($ million) |
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Statement of financial position as of December 31 |
2023 |
||
|
assets |
$ |
10.01 |
|
|
Debt (including redeemable preferred stock) |
(8.71 |
) |
|
|
Amount of net assets attributable to owners of class A shares |
$ |
1.30 |
|
|
Statement of comprehensive income for the year ended December 31 |
|||
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Profits (including net investment gains) |
$ |
1.16 |
|
|
expenses |
(0.40 |
) |
|
|
Operating income |
0.76 |
||
|
Distribution of preferred stock |
(0.47 |
) |
|
|
Increase in net assets attributable to Class A stockholders |
$ |
0.29 |
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For more information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email info@mulvihill.com or www.mulvihill.com.
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John Germain, Senior Vice President and CFO |
Multihill Capital Management Co., Ltd. |
Commissions, trailing fees, management fees and expenses may all be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their value changes frequently, and past performance may not be repeated.
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