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 in realtime @ $15.83

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Post by mouserman on Aug 28, 2024 10:22am

LFE unit nav in realtime @ $15.83

Showing a gain of 67 cents in realtime , just noted that both AFL and PRU also went ex divvy since the 15th..

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Comment by lilswede on Aug 28, 2024 11:08am

So trading at .50 under nav and goes x divy tomorrow? I hope that this can finally become a consistent monthly payer.

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Comment by chessplayer on Aug 28, 2024 11:38am

And the premium should evaporate given the redemption right on Dec 1st.

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Comment by chessplayer on Aug 28, 2024 11:41am

sorry its on Dec 1st 2025.

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Comment by Stoiklaugh on Aug 28, 2024 11:42am

Would you be so kind to elaborate? Thanks!

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Comment by chessplayer on Aug 28, 2024 3:18pm

Every 5 years, the holders of the prefs and capital shares have the right to force the issuer to retract their shares at no cost for the value of the NAV on December 1st. In the case of Lfe, this is in 2025 but for Dfn or Df, this is in 2024. Obviously, if the value of the capital shares is at a significant discount to the NAV, it could be of interest to excercise that right to arbitrage the ...more

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Comment by mouserman on Aug 28, 2024 4:01pm

At this moment in time, DFN and DF would only be at a slight discount to NAV after distributions to preferreds and commons. I dont think there will be a big rush to retract. It doesnt happen in one day, and with it being so close, you could end up poorer by retracting, as opposed to holding or trading the commons.

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Canadian Life Companies Split Corp