Middlefield Canadian Income PCC – Half-year report

Press Release

The information set out in this announcement is the Company’s full unedited half-yearly financial results (unaudited) for the period ended 30 June 2024 (the “HYFR”).

The HYFR is expected to be printed and posted to all shareholders within September 2024. The Company will also make the HYFR available in the ‘Trust Documents’ section of the Company’s website at https://middlefield.com/funds/uk- funds/middlefield-canadian-income-trust/ and the Company will make a further announcement once the HYFR has been uploaded to the Company’s website and to the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

Enquiries:

Hilary Jones

JTC Fund Solutions (Jersey) Limited

Secretary

Tel.: 01534 700 000

Dean Orrico

President

Middlefield International Limited

Tel.: 01203 7094016

END OF ANNOUNCEMENT

Middlefield Canadian Income Trust

Half Yearly Report

30 June 2024

LON: MCT

Focusing on high levels of stable and increasing income together with capital growth, this Fund invests in high quality, Canadian large capitalisation businesses. Middlefield Limited, the Fund’s investment manager, is a private and independent firm located in Toronto, Canada, and is regulated by the Ontario Securities Commission.

RiA – A Responsible Investment Association Member

Further details about the Responsible Investment Association are available on the website at www.riacanada.ca

Financial Highlights

2024 DIVIDENDS PAID

1.325p per share quarterly

5.3p per share Dividend Guidance for 2024¹

YIELD

5.1%

SHARE PRICE

103p

NAV PER SHARE

121.22p

NET ASSETS

£129.1m

This is a target only and does not constitute, nor should it be interpreted as a profit forecast.

Why Middlefield Canadian Income PCC?

Who is this fund for?

This Fund is for long-term investors seeking dividends and capital appreciation from a diversified portfolio of stable, profitable businesses domiciled primarily in Canada.

Reasons to buy
Unique	Proven	Diversification
The UK’s only listed Canadian equity	Outperformance over the period since	UK investors are underexposed to
fund focused on high income – admitted inception in 2006. In the six months		Canadian equities – Canada is one of
to the FTSE UK All-Share Index in	ended 30 June 2024, the Fund’s total	the largest investable economies in the
2011.	return was 4.6 per cent versus the	developed world.
	benchmark total return of 0.3 per cent.

High Income	Stability	Governance
Canadian equities offer a higher yield	Canada is a member of the G7 and	Experienced Board of Directors with an
compared to other developed markets	offers one of the most stable political	independent majority, re-elected
and MCT has consistently paid	and financial systems in the world.	annually by shareholders to protect their
dividends in excess of 5p per share per		interests.
annum since 2017 and increased its
dividend in 2023 and in 2024.

A member of the Association of Investment Companies

Further details about the Company, including the latest annual and half yearly financial reports, fact sheets and stock exchange announcements, are available on the website at www.middlefield.co.uk

Key Information

This Fund invests in larger capitalisation Canadian and U.S. high yield equities with a focus on companies that pay and grow dividends.

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