Canadian Life Companies Split Corp T.LFE.PR.B

Primary Symbol: T.LFE Alternate Symbol(s): CLSPF

The Companys investment objectives are (i) to provide holders of Preferred Shares with fixed cumulative preferential monthly cash dividends in the amount of $0.04375 per Preferred Share to yield 5.25% per annum on the original issue price (ii) to provide holders of Class A Shares with regular monthly cash distributions targeted to be $0.10 per Class A Share to yield 8.0% per annum on the original issue price and (iii) to return the original issue price to holders of both Preferred Shares and Class A Shares at the time of the redemption of such shares on December 1, 2012. The Company will invest primarily in a portfolio of common shares of Proceeds: (the ``Portfolio) which will include the following publicly traded Canadian life insurance companies (the ``Portfolio Companies), each of whose shares will generally represent no less than 10% and no more than 30% of the net asset value (``Net Asset Value) of the Company: Great-West Lifeco Inc.

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Canadian Life Companies Split Corp > IAG gets hammered at the open...

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Comment by mousermanon Feb 22, 2024 11:01am

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RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:IAG gets hammered at the open...

Yes for instance FTN will pay out just over 20 cents in distributions to preferreds and commons, and dividends received by the end of the month will not come close to that... might be 5 or 6 cents worth as they dont have a lot of dividend concentration in late february. Whereas LFE has most of theirs in late FEB. MFC for instance holds about 27% of the LFE UNIT NAV... so a big part of the dividend received is from them even tho its only 40 cents a share.

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