Canadian Life Companies Split (TSE:LFE) Sets New 1-Year High – Here’s Why

Canadian Life Companies Split Corp. (TSE:LFE)’s stock price hit a new 52-week high on Thursday . The company traded as high as C$9.40 and last traded at C$9.41, with a volume of 86132 shares traded. The stock had previously closed at C$9.58.

Canadian Life Companies Split Stock Up 1.7%

The company’s 50 day simple moving average is C$8.45 and its 200-day simple moving average is C$7.73. 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 firm has a market cap of C$159.07 million, a P/E ratio of 5.52 and a beta of 3.27.

Canadian Life Companies Split Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.10 per share. This represents a c) annualized dividend and a dividend yield of 12.5%. The ex-dividend date of this dividend is Friday, July 31st. Canadian Life Companies Split’s payout ratio is presently 68.97%.

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.