PaineWebber Premier Tax-Free Income Fund Inc. Reports First Quarter Performance

Strategic Insights -

PaineWebber Premier Tax-Free Income Fund Inc. announced its performance for the first quarter ended December 31, 1994. Despite experiencing total net realized and unrealized losses of $(6,909,662), the Fund managed to earn $3,024,271 in net investment income, translating to $0.29 per common share. However, after paying dividends to preferred shareholders, the earnings available to common shareholders were $2,277,346, equal to $0.22 per common share. The Fund's net asset value per common share decreased by 17.33% to $14.02, down from $16.96 at the end of 1993.

Key Takeaways:

  • The Fund's net investment income for the first quarter was $3,024,271, equal to $0.29 per common share.
  • After paying dividends to preferred shareholders, the earnings available to common shareholders were $2,277,346, equal to $0.22 per common share.
  • Total net realized and unrealized losses for the quarter were $(6,909,662), equal to $(0.67) per common share.
  • The Fund's net asset value per common share decreased by 17.33% to $14.02, down from $16.96 at the end of 1993.
  • The Fund's total net assets as of December 31, 1994, were $225,247,628, with net assets attributable to common shareholders being $145,247,628.
  • The Fund had 10,356,667 common shares outstanding as of December 31, 1994.
  • Jeffrey Cullen, a representative of the Fund, is available for comment.

Statistics:

  • Net investment income for the first quarter: $3,024,271
  • earnings available to common shareholders after paying dividends to preferred shareholders: $2,277,346
  • Total net realized and unrealized losses for the quarter: $(6,909,662)
  • Net asset value per common share as of December 31, 1994: $14.02
  • Decrease in net asset value per common share from December 31, 1993: 17.33%
  • Total net assets as of December 31, 1994: $225,247,628
  • Net assets attributable to common shareholders as of December 31, 1994: $145,247,628
  • Number of common shares outstanding as of December 31, 1994: 10,356,667

Sources:

  • BUSINESS WIRE - Feb. 14, 1995
  • PaineWebber Premier Tax-Free Income Fund Inc.