Bullboard - Stock Discussion Forum 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... see more

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TSX:LBS - Post Discussion

Life & Banc Split Corp > LBS UNIT NAV to Nov 14 = approx: $16.46

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Post by mouserman on Nov 14, 2023 4:28pm

LBS UNIT NAV to Nov 14 = approx: $16.46

Now that is not taking into account some loss on the provision of LBS having to buyback preferreds that are redeemed. SO maybe estimate it about 10 cents lower. Last trade for LBS @ $7.58 leaves a healthy premium even without the preferred liability. FTN trades a full dollar lower thatn LBS with a higher UNIT NAV and higher yield. US banks definitely had the big bounce today compared to their CAD counterparts.
LBS premium today would be at least $1.10 , or about 17 to 18%

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Comment by BSdetector2016 on Nov 15, 2023 3:59pm

Thanks once again to all those who panicked!

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Comment by Ozzie9661 on Nov 15, 2023 6:02pm

Feeling pretty good right now about the $20K I picked up at $6.26 lol

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Comment by Ahlavanthan on Nov 15, 2023 9:34pm

I got a small amount during the drop at 5.66 but sold them all when it hit 5.99. Oh man what a flop move that was. Ended up getting the dividend though.

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Life & Banc Split Corp