Canadian Life Companies Split (TSE:LFE) Reaches New 1-Year High After Dividend Announcement

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

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

Canadian Life Companies Split Stock Down 0.4%

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

Canadian Life Companies Split Company Profile

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.