Canadian Life Companies Split (TSE:LFE) Shares Up 2% - Here's Why

Key Points

• Shares up ~2% — Canadian Life Companies Split (TSE:LFE) rose about 2%, trading as high as C$7.08 and last at C$7.04 on Wednesday with 133,832 shares exchanged, slightly below the average volume of 136,313.
• Key financials: the company has a market cap of C$116.53 million, a low P/E of 4.05, a beta of 2.98, quick ratio 1.33, current ratio 1.72, and a high debt-to-equity ratio of 141.23.
• Dividend strategy: the firm targets fixed monthly Preferred dividends of $0.04375 (yielding 5.25%) and Class A distributions of $0.10 monthly (target yield 8.0%), and states it intends to return original issue price at redemption (noted as December 1, 2012 in the report).

Canadian Life Companies Split Corp. (TSE:LFE - ) shares shot up 2% during trading on Wednesday . The stock traded as high as C$7.08 and last traded at C$7.04. 133,832 shares were traded during mid-day trading, a decline of 2% from the average session volume of 136,313 shares. The stock had previously closed at C$6.90.

Canadian Life Companies Split Stock Up 2.0%

The company has a quick ratio of 1.33, a current ratio of 1.72 and a debt-to-equity ratio of 141.23. The company has a market cap of C$116.53 million, a P/E ratio of 4.05 and a beta of 2.98. The company has a fifty day moving average of C$7.15 and a 200 day moving average of C$6.96.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.