Split Corporation
Class A share & preferred share data · Managed by Brompton Funds · Live TSX data, updated daily
Class A (PWI) price
$10.85
$-0.04 today
Class A Yield
11.06%
Preferred Yield
6.09%
NAV / Unit
$24.38
Downside Protection
49.7%
Dividend Coverage
0.92
Maturity Date
May 29, 2031
The fund issues two classes. Class A (PWI) pays a higher, variable monthly dividend and floats with the portfolio. Preferred shares rank ahead of Class A and give up upside for stability.
| Metric | Class A (PWI) | PWI.PR.A |
|---|---|---|
| Price | $10.85 | $10.51 |
| Current Yield | 11.06% | 6.09% |
| Dividend | Variable monthly | $0.1600 |
| 52-Week Range | $9.63–$14.30 | $9.24–$10.74 |
| Priority | Juniors — paid after preferreds | Senior — paid first, cumulative |
| Detail page | n/a (fund quote) | — |
PWI is a split corporation: a closed-end fund that splits a portfolio of Infrastructure stocks into two classes of shares with different risk-return profiles. The portfolio's net asset value is currently $24.38 per unit. Preferred shares — PWI.PR.A — receive a prioritized, cumulative monthly dividend; Class A shareholders give up that priority in exchange for a much higher yield.
Preferred holders' downside protection stands at 49.7%: the portfolio could fall that far before preferred shareholders' $25 redemption value is at risk. Dividend coverage is 0.92×.
On May 29, 2031 the fund matures and is wound up: preferred shares are redeemed first, Class A holders receive the residual value. See our PWI.PR.A preferred share page for issue terms, prospectus data and history.
PWI is a Canadian split corporation managed by Brompton Funds. It holds a portfolio of Infrastructure stocks and issues two classes of shares: Class A shares (higher yield, more risk) and preferred shares (prioritized, more stable dividends).
PWI is the Class A share — the equity class of the fund, with a higher (and variable) yield. PWI.PR.A is the preferred share class, which receives a prioritized cumulative dividend and ranks ahead of Class A. Downside protection is currently 49.7%.
The fund has a maturity date of May 29, 2031. At maturity, the fund winds up and both classes are terminated: preferred shareholders are paid first (up to their $25 redemption value per preferred share), and Class A holders receive what remains of the portfolio value.
Downside protection is the cushion preferred shareholders have before losing principal: it is the difference between the fund's net asset value per unit and the preferred shares' redemption value. For PWI it is currently 49.7%.