Life & Banc Split Corp T.LBS

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

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 growth in Net Asset Value per Class A share. To achieve these objectives, the Fund invests in a portfolio comprised of common shares of approximately six Canadian banks and four publicly traded Canadian life insurance companies. The Fund also writes covered call options and cash-covered put options in respect of the portfolio to generate additional distributable income for the Fund and/or to reduce the volatility of the Fund. The Fund's investment manager is Brompton Funds Limited.

TSX:LBS - Post by User

Life & Banc Split Corp > Offering says LBS preferreds yield will be 8% ?

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Comment by flamingogoldon Jan 25, 2023 2:33pm

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Post# 35245907

RE:RE:Offering says LBS preferreds yield will be 8% ?

So I get a total annual distribution of 78.8¢. Divide that by 4 quarters and the distribution now comes to 19.7¢. Given rising inflation many preferreds will likely reset with higher distribtuions along with this. Not a bad place to hide.

navgod wrote: No change in coupon -- the 8% yield is only to end of Oct. 2023 when the option to redeem at par occurs so a price of 9.85 (now trading at 9.77) adds a lot in yield!

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