Canadian Life Companies Split Corp. (TSE:LFE – Get Free Report) was up 3.4% during trading on Tuesday. The company traded as high as C$8.87 and last traded at C$8.83. 93,069 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 116,178 shares. The stock had previously closed at C$8.54.
Canadian Life Companies Split Trading Up 3.4%
The firm has a market capitalization of C$192.07 million, a price-to-earnings ratio of 2.41 and a beta of 3.15. The firm’s 50 day moving average is C$8.87 and its 200 day moving average is C$8.37. The company has a quick ratio of 1.32, a current ratio of 1.81 and a debt-to-equity ratio of 124.90.
Canadian Life Companies Split Announces Dividend
The firm also recently declared a monthly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 10th were given a $0.10 dividend. The ex-dividend date was Friday, July 31st. This represents a $1.20 annualized dividend and a yield of 13.6%. Canadian Life Companies Split’s payout ratio is 32.79%.
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.
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