RE:RE:RE:NCIB and SIB
dangood wrote: E-L Financial can claim a refundable dividend tax credit on the dividend and capital gain income it earns by paying this out to shareholders. These dividends are not from earnings of the operating company Empire Life. So basically E-L paid out $80 in cash and its net asset value would decrease by the same $80. I look at E-L Financial as basically like a closed ended investment fund which trade at a discount to underlying net asset value. EVT owns 40% of E-L so you will likely see them declare a special dividend in the near future as well to again get this refunable dividend tax credit.
I assume EVT will pass it on in March 2022