Canadian Life Companies Split Corp. Preferred Dividend Declared
TORONTO, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Canadian Life Companies Split Corp. (The "Company") (TSX: LFE) (TSX: LFE.PR.B) declares its monthly distribution of $0.06667 for each Preferred share ($0.800 annually). Distributions are payable November 10, 2023 to shareholders on record as at October 31, 2023.
There will not be a distribution paid to the Class A Shares for October 31, 2023 as per the Prospectus which states no regular monthly dividends will be paid on the Class A shares in any month as long as the net asset value per unit is equal to or less than $15.00.
Since inception Class A shareholders have received a total of $7.65 per share and Preferred shareholders have received a total of $11.16 per share inclusive of this distribution, for a combined total of $18.81 per unit.
The Company invests in a portfolio of four publicly traded Canadian life insurance companies as follows: Great-West Lifeco Inc., Industrial Alliance Insurance & Financial Services Inc., Manulife Financial Corporation and Sun Life Financial Inc.
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