Canadian Life Companies Split Corp. Preferred Dividend Declared
Canadian Life Companies Split Corp. - GlobeNewswire - Thu Jan 18, 8:00AM CST
TORONTO, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Canadian Life Companies Split Corp. (the "Company") declares its monthly distribution of $0.06667 for each Preferred share ($0.800 annually). Distributions are payable February 9, 2024 to shareholders on record as at January 31, 2024.
There will not be a distribution paid to the Class A Shares for January 31, 2024 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 $11.36 per share inclusive of this distribution, for a combined total of $19.01 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.