Canoe EIT Income Fund (T:EIT*CA)
Business Focus: Closed End Funds
| Sector: Financials | Industry: Closed End Funds |
| Company Contact | |
| Address: | 421 7 Ave SW Suite 2750 CALGARY AB T2P 4K9 |
| Tel: | N/A |
| Website: | https://www.canoefinancial.com/eit-income-fund |
| IR: | See website |
| Key People | ||
| Darcy Hulston President, Chief Executive Officer, Director | Renata Colic Chief Financial Officer | Kim Jativa Chief Operating Officer |
| Robert Taylor Senior Vice President, Chief Investment Officer and Portfolio | Darcy M. Lake Senior Vice President, Chief Compliance Officer, General Counsel | Steve Mantrop Senior Vice President, National Sales Director |
| Darren N. Cabral Senior Vice President - Head of Marketing, Strategy and Innovation of the Manager | Rafi G. Tahmazian Senior Portfolio Manager and Director | |
| Business Overview |
| Canoe EIT Income Fund (the Fund) is a closed-end investment trust. The Fund's investment objectives are to maximize monthly distributions relative to risk and maximize net asset value while maintaining and expanding a diversified investment portfolio. The Fund seeks to maximize monthly distributions primarily through investing in income-generating securities. Its investment portfolio includes financials, health care, energy, materials, consumer discretionary, industrials, cash, communication services, real estate, consumer staples and corporate bonds. Canoe Financial LP is the Fund's manager. CIBC Mellon Trust Company acts as the custodian of the Fund. |
| Financial Overview |
| For the fiscal year ended 31 December 2022, Canoe EIT Income Fund revenues decreased 50% to C$307.2M. Net income decreased 56% to C$255.4M. Revenues reflect Unrealized G/L on Investment Securities decrease of 73% to C$86.8M, Realized G/L on Investments Securities decrease of 38% to C$150.5M, Net realized gain (loss) on derivatives decrease from C$184K to -C$13K. |
| Employees: | 74 as of Mar 12, 2021 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $261.43M as of Dec 31, 2022 |
| Annual revenue (TTM): | $307.19M as of Dec 31, 2022 |
| EBITDA (TTM): | $263.42M as of Dec 31, 2022 |
| Net annual income (TTM): | $255.37M as of Dec 31, 2022 |
| Free cash flow (TTM): | -$232.18M as of Dec 31, 2022 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 177,791,885 as of May 2, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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