Canadian Life Companies Split (TSE:LFE) Stock Price Down 0.2% - Here's Why

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 - Get Free Report) dropped 0.2% on Wednesday . The stock traded as low as C$6.17 and last traded at C$6.20. Approximately 73,735 shares were traded during trading, an increase of 51% from the average daily volume of 48,833 shares. The stock had previously closed at C$6.21.

Canadian Life Companies Split Trading Up 0.3%

The company has a fifty day simple moving average of C$6.27 and a two-hundred day simple moving average of C$5.99. The company has a current ratio of 1.47, a quick ratio of 1.33 and a debt-to-equity ratio of 210.26. The company has a market cap of C$61.46 million, a PE ratio of 4.68 and a beta of 2.91.

Canadian Life Companies Split Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, August 8th were given a dividend of $0.10 per share. This represents a c) annualized dividend and a dividend yield of 19.5%. The ex-dividend date of this dividend was Thursday, July 31st. Canadian Life Companies Split's dividend payout ratio is currently 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.