Canadian Life Companies Split (TSE:LFE) Reaches New 12-Month High Following Dividend Announcement

Canadian Life Companies Split Corp. (TSE:LFE) hit a new 52-week high during trading on Friday after the company announced a dividend. The company traded as high as C$9.55 and last traded at C$9.54, with a volume of 106150 shares traded. The stock had previously closed at C$9.58.

The newly announced dividend which will be paid on Monday, August 10th. Investors of record on Monday, August 10th will be given a dividend of $0.10 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date of this dividend is Friday, July 31st. Canadian Life Companies Split’s dividend payout ratio (DPR) is presently 32.79%.

Canadian Life Companies Split Stock Down 0.4%

The stock has a 50-day moving average of C$8.61 and a 200 day moving average of C$7.79. The company has a market capitalization of C$157.92 million, a PE ratio of 2.61 and a beta of 3.27. The company has a quick ratio of 1.32, a current ratio of 1.81 and a debt-to-equity ratio of 124.90.

About Canadian Life Companies Split

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.