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Brompton Lifeco Split Corp T.LCS

Alternate Symbol(s):  T.LCS.PR.A

The Funds investment objectives are to provide holders of Preferred shares with fixed, cumulative, preferential quarterly cash distributions in the amount of 0.15625 per share and to return the original issue price of 10.00 per Preferred share to Preferred shareholders at maturity; and to provide holders of Class A shares with regular monthly cash distributions, targeted to be 0.075 per share, and the opportunity for growth in Net Asset Value per share. To achieve these objectives, the Fund invests in a common share portfolio of the following Canadian life insurance companies on an equally weighted basis at the time of investment and any subsequent rebalancing.


TSX:LCS - Post by User

Comment by EricDividendson May 11, 2023 4:19pm
117 Views
Post# 35444019

RE:RE:LCS realtime UNIT NAV @ $15.81

RE:RE:LCS realtime UNIT NAV @ $15.81

First of all, welcome to the world of split shares, LCS is currently probably one of the best values out there.

The NAV is basically used to figure out if and when the distributions will be paid on the Class A shares.

The Preffered shares will alwyas get their dividend first. The NAV price really doesn't matter to the Preffered Shareholders and may fluctuate by a couple pennies above $10, I have never really figured out why, but it is so small doesn't really seem to make sense to worry about unless you are a preffered shareholder want to sell them back to the company.

Mainly, unless something drastic happened to the company, the preffered will get $10 back on windup and the Class A would get whatever is left.

I do not concern myself with what the NAV is for the Class A or the Preffered, I concern myself with the total NAV as that is what the distributions on based on.

 "No distributions will be paid on the Class A Shares if (i) the distributions payable on the Preferred Shares are in arrears, or (ii) in respect of a cash distribution, after the payment of a cash distribution by the Company the NAV per Unit would be less than $15.00."

The higher the total NAV is from the $15 dollar mark the better for those of us seeking income from our investment, the closer to the $15 the riskier it is we won't be paid. Mouseman does a fantastic job of keeping us all informed on the daily swings in the NAV's on a number of different Split Shares. His help and knowledge are very welcomed by myself and many others.

 

Most Brompton NAVs are updated on their websites every Friday with the exception of a few, such as PWI which is done daily.

Enjoy and Good Luck

 

 No distributions will be paid on the Class A Shares if (i) the distributions payable on the Preferred Shares are in arrears, or (ii) in respect of a cash distribution, after the payment of a cash distribution by the Company the NAV per Unit would be less than $15.00.

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