Middlefield Canadian Income PCC: A Closer Look at Its Holdings

As an investor, understanding the holdings of a fund is crucial for making informed decisions. Middlefield Canadian Income PCC (MCT) is a Jersey-based closed-ended investment company that focuses on providing shareholders with a high level of dividends and capital growth over the long term. The fund invests predominantly in the securities of companies and real estate investment trusts (REITs) domiciled in Canada and the United States that the investment manager believes will provide an attractive level of distribution, together with the prospect for capital growth. In this article, we will delve into the fund's holdings, focusing on the sectors and companies that have shown consistent performance and dividend growth over the past five years.



The fund's portfolio is diversified across various sectors, including financials, real estate, utilities, pipelines, energy, materials, healthcare, communication services, consumer staples, consumer discretionary, and industrials. This diversification helps to mitigate risks and ensures a steady income stream for shareholders. Some of the key sectors and companies within the Middlefield Canadian Income PCC portfolio that have shown consistent performance and dividend growth over the past five years include:

1. Financials: This sector has contributed positively to the Fund's performance. Some key companies within this sector include:
* Royal Bank of Canada (RY.TO): A major Canadian bank with a strong dividend track record. Its dividend has grown consistently over the past five years, with a current yield of around 4.5%.
* Toronto-Dominion Bank (TD.TO): Another leading Canadian bank, TD has also demonstrated consistent dividend growth, with a current yield of approximately 4.2%.
2. Energy: The energy sector has also performed well, with key companies such as:
* Enbridge Inc. (ENB.TO): A large Canadian energy infrastructure company, Enbridge has maintained a stable dividend and has grown it consistently over the past five years. Its current yield is around 7.5%.
* Suncor Energy Inc. (SU.TO): An integrated energy company, Suncor has shown consistent dividend growth, with a current yield of approximately 5.5%.
3. Utilities: The utilities sector has contributed positively to the Fund's performance, with companies like:
* Fortis Inc. (FTS.TO): A regulated utility company, Fortis has a strong dividend track record, with a current yield of around 3.5% and consistent dividend growth over the past five years.
* Canadian Utilities Limited (CU.TO): Another regulated utility, Canadian Utilities has shown consistent dividend growth, with a current yield of approximately 4.0%.

These sectors and companies have demonstrated consistent performance and dividend growth, contributing to the overall success of the Middlefield Canadian Income PCC portfolio. The fund's investment strategy, which focuses on high-quality, large-cap businesses that pay and grow dividends, has contributed to its stable income and capital growth. Strategic acquisitions, such as the acquisition of shares in Canadian Pacific Railway Limited and Brookfield Renewable Partners L.P., have also played a significant role in the fund's success.



In conclusion, the Middlefield Canadian Income PCC portfolio is well-diversified, with a focus on sectors and companies that have shown consistent performance and dividend growth. The fund's investment strategy, combined with strategic acquisitions, has contributed to its stable income and capital growth. As an investor, understanding the fund's holdings and the underlying sectors and companies can help you make informed decisions about buying, holding, or selling shares in the fund.