Canadian Life Companies Split (TSE:LFE) Stock Jumps 3.4% – Should You Buy?

Canadian Life Companies Split Corp. (TSE:LFE)’s share price rose 3.4% on Tuesday. The stock traded as high as C$8.87 and last traded at C$8.83. Approximately 93,069 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 116,178 shares. The stock had previously closed at C$8.54.

Canadian Life Companies Split Price Performance

The company has a 50 day moving average of C$8.87 and a two-hundred day moving average of C$8.37. The firm has a market cap of C$192.07 million, a P/E ratio of 2.41 and a beta of 3.15. 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%.

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.