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Bullboard - Stock Discussion Forum Life & Banc Split Corp T.LBS

Alternate Symbol(s):  T.LBS.PR.A | LFBCF

Life & Banc Split Corp. (the Fund) is a Canada-based mutual fund company. The Fund's investment objective is to provide holders of Preferred shares with fixed cumulative preferential quarterly cash distributions and to return the original issue price on the maturity date, and to provide holders of Class A shares with regular monthly cash distributions and the opportunity for capital... see more

TSX:LBS - Post Discussion

Life & Banc Split Corp > Brompton reports LBS unit NAV @ $17.63 to AUG 04
View:
Post by mouserman on Aug 05, 2022 6:34pm

Brompton reports LBS unit NAV @ $17.63 to AUG 04

After the preffered portion is taken off the commons have a value of  $7.58 as of the close yesterday.
Today the UNIT NAV will have gained about 8 cents, so would be $17.71
Value of the commons today would be around $7.66. Premium would be 99 cents at the close of $8.65
Works out to  12.9 %. One of the lowest premiums in the split funds i watch. FTN today would have a premium of just over 10% , and pays about 16.7% yield per annum. Only one i see that is a better value considering lowest premium  to NAV.
Comment by superfido10 on Aug 12, 2022 3:04pm
You may be right about your numbers but it was not too long ago that LBS stopped their dividend distribution for close to a year. Is that in the cards again? I won't take a chance.
Comment by mouserman on Aug 12, 2022 3:43pm
 Nearly every split fund common was suspended when the pandemic hit and everyone thought the world was ending. Right now there is about 3.20$ of safety coverage for LBS paying to commons ,so  it will take a long time for the Canadian banks and lifecos to fall that far again. If they do, several of the split fund commons will stop paying  ( or continue not to pay) before LBS gets ...more  
Comment by thinkyourmoney on Aug 15, 2022 6:06pm
I was in and out of split shares and found this the best.  There have been 2 groups of months where the dividend on these units was suspended as far back as the graphs will go...2006ish. One group was 8 months in 2008/2009 and the other was in 2020 (Covid). This is Canadian Banks and Lifecos man!!  That is a total of $21.60 (216 months) - $1.60 (16 months X $.10)  = $20.00 net ...more  
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