Canoe EITome Fund (Canoe EITome Fund) Effective Interest Rate on Debt % : 6.26% (As of Dec. 2023)

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What is Canoe EITome Fund Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Canoe EITome Fund's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $4.50 Mil. Canoe EITome Fund's average total debt for the quarter that ended in Dec. 2023 was $71.89 Mil. Therefore, Canoe EITome Fund's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 6.26%.

Canoe EITome Fund Effective Interest Rate on Debt % Historical Data

The historical data trend for Canoe EITome Fund's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Canoe EITome Fund Effective Interest Rate on Debt % Chart

Canoe EITome Fund Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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3.24

1.64

0.96

2.21

5.96

Canoe EITome Fund Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															0.96	1.16	3.30	5.70	6.26

Competitive Comparison of Canoe EITome Fund's Effective Interest Rate on Debt %

For the Asset Management subindustry, Canoe EITome Fund's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Canoe EITome Fund's Effective Interest Rate on Debt % Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Canoe EITome Fund's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Canoe EITome Fund's Effective Interest Rate on Debt % falls into.

Canoe EITome Fund Effective Interest Rate on Debt % Calculation

Canoe EITome Fund's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -4.287	/	( (72.207	+	71.548)	/ 2 )
=	-1 * -4.287	/	71.8775
=	5.96 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	72.207	+	0
=	72.207

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	71.548	+	0
=	71.548

Canoe EITome Fund's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Jun. 2023 )	+	Total Debt (Q: Dec. 2023 ))	/ count )
=	-1 * -4.5	/	( (72.237	+	71.548)	/ 2 )
=	-1 * -4.5	/	71.8925
=	6.26 %

where

	Total Debt (Q: Jun. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	72.237	+	0
=	72.237

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	71.548	+	0
=	71.548

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is two times the semi-annual (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Canoe EITome Fund (OTCPK:ENDTF) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Canoe EITome Fund Effective Interest Rate on Debt % Related Terms

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Canoe EITome Fund (Canoe EITome Fund) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Canoe EIT Income Fund (OTCPK:ENDTF) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

EIT.PR.B.PFD:Canada EIT.PR.A.PFD:Canada EIT.UN:Canada

Address

421 - 7th Avenue SW, Suite 2750, Calgary, AB, CAN, T2P 4K9

Website

https://www.canoefinancial.com

Canoe EIT Income Fund is a Canadian closed-end investment trust. The investment objective of the Fund is to maximize monthly distributions relative to risk and maximize net asset value while maintaining and expanding a diversified portfolio. The company invests in various sectors, of which Financials, Energy, Healthcare, etc.