Canadian Life Companies Split (TSE:LFE) Shares Down 0.2% - Here's What Happened

Key Points

• Canadian Life Companies Split Corp.'s stock price decreased by 0.2%, with a last trade at C$6.20 after reaching a low of C$6.17.
• The company announced a monthly dividend of $0.10 per share, resulting in a high dividend yield of 19.4%, with the payout ratio sitting at 91.38%.
• Canadian Life Companies Split primarily invests in stocks of major life insurance companies in Canada, actively managed by Quadravest Capital Management Inc.

Canadian Life Companies Split Corp. (TSE:LFE - )'s share price traded down 0.2% during trading on Wednesday . The stock traded as low as C$6.17 and last traded at C$6.20. 73,735 shares traded hands during mid-day trading, an increase of 51% from the average session volume of 48,833 shares. The stock had previously closed at C$6.21.

Canadian Life Companies Split Price Performance

The firm has a 50-day moving average of C$6.29 and a 200-day moving average of C$5.99. The stock has a market cap of C$61.96 million, a PE ratio of 4.72 and a beta of 2.91. The company has a debt-to-equity ratio of 210.26, a current ratio of 1.47 and a quick ratio of 1.33.

Canadian Life Companies Split Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, August 8th will be issued a $0.10 dividend. This represents a c) annualized dividend and a dividend yield of 19.4%. The ex-dividend date of this dividend is Thursday, July 31st. Canadian Life Companies Split's payout ratio is 91.38%.

Canadian Life Companies Split Company Profile

Canadian Life Companies Split Corp. is a closed-ended equity mutual fund launched and managed by Quadravest Capital Management Inc It invests in the public equity markets of Canada. The fund seeks to invest in stocks of companies operating in the life insurance sector. It primarily invests in stocks of four publicly traded life insurance companies namely Great-West Lifeco Inc, Industrial Alliance Insurance and Financial Services Inc, Manulife Financial Corporation, and Sun Life Financial Inc The fund employs fundamental analysis with a focus on such factors as a firm's earning history, relative price-earnings multiple, cash flow, dividend yield, market position, and growth prospects to create its portfolio.

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