Canadian Life Companies Split Corp T.LFE

Alternate Symbol(s): CLSPF | T.LFE.PR.B

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.

TSX:LFE - Post by User

Canadian Life Companies Split Corp > LFE unit nav to July 30 = approx: $15.04 before dist.

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Comment by BOMASon Jul 30, 2024 5:03pm

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Post# 36155092

RE:LFE unit nav to July 30 = approx: $15.04 before dist.

MOUSERMAN (or any other reader,)
Thanks for the update.

Also based on the LFE Jul17-2024 press release (link below) it looks like LFE is paying a $0.10/share dividend for July?

https://stockhouse.com/news/press-releases/2024/07/17/canadian-life-companies-split-corp-declares-class-a-preferred-share-dividend

Can you confirm?

I just was not looking at LFE very carefully this July and I was assuming LFE would not pay a dividend in July. So looks LFE was over the $5 threshold at time of dividend payout calculation. Or LFE not require the $5/share threshold level to pay out a dividend?

Looking at Quadravest LFE fund feature page it just says:

Class A Shares:

(i) to provide holders of the Class A Shares with monthly cash dividends as the directors of the Company may from time to time determine, and;
(ii) on or about December 1, 2030 (subject to further 6 year extensions thereafter) to pay the holders of Class A Shares such amounts as remain after paying the holders of the Preferred shares the amounts owing to them.

Above cut and pastet does not mention a $5 minimum share price for LFE for LFE to pay a dividend. and it sounds like it is at the discression of the directors??

Anyway if someone can confirm/comment on how LFE dividend payout works I would appreciate hearing what you have to say.

Thanks in advance Bomas