Canoe EIT Income Fund (TSE:EIT.UN) Reaches New 52-Week High – Here’s What Happened

Canoe EIT Income Fund (TSE:EIT.UN)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as C$17.08 and last traded at C$17.07, with a volume of 131701 shares. The stock had previously closed at C$16.96.

Canoe EIT Income Fund Price Performance

The firm has a market capitalization of C$3.14 billion, a price-to-earnings ratio of 5.42 and a beta of -0.14. The stock has a fifty day moving average of C$16.23 and a two-hundred day moving average of C$15.69.

Canoe EIT Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, March 13th will be given a dividend of $0.10 per share. This represents a c) dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Monday, February 23rd. Canoe EIT Income Fund’s dividend payout ratio is currently 38.10%.

About Canoe EIT Income Fund

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.