Bullboard - Stock Discussion Forum 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... see more

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TSX:LFE - Post Discussion

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

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Post by mouserman on Jul 30, 2024 4:40pm

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

So we saw a pullback towards the last part of the day, and the net result was the Commons having a value of about $4.87 after distributions are paid out. LFE needs to gain about 13 or 14 cents by AUG 15th to make the cut again for paying to commons.
I bought a few more today, as i think the 4 BIG CAD lifecos will again report surprisingly good earnings in August ...

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Comment by BOMAS on Jul 30, 2024 5:03pm

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 ...more

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Comment by mouserman on Jul 31, 2024 10:08am

Yes Quadravest used a later date for LFE (JULY 16th) , and that gave them the UNIT NAV above 15$ that triggers a payment to Common shares for the month of JULY. They have done that as well with DFN on more than one occasion, but i was surprised they did it for LFE. Normally the calculation date is on or near the 15th of every month, and that is when they determine which split fund ...more

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