E-L Financial (TSE:ELF) Shares Down 0.1% - Here's Why

Key Points

• E-L Financial shares fell by 0.1% during trading, closing at C$14.77 with lower trading volume.
• The company recently announced a dividend cut, paying a quarterly dividend of $0.04, translating to an annual yield of 1.08%.
• E-L Financial operates primarily through two segments: E-L Corporate and Empire Life, focusing on insurance products and investment management.

Shares of E-L Financial Co. Limited (TSE:ELF - Get Free Report) dropped 0.1% during mid-day trading on Wednesday . The stock traded as low as C$14.57 and last traded at C$14.77. Approximately 35,906 shares changed hands during trading, a decline of 39% from the average daily volume of 59,199 shares. The stock had previously closed at C$14.79.

E-L Financial Stock Down 0.7%

The firm has a market cap of C$50.51 million, a P/E ratio of 0.03 and a beta of 0.85. The business's 50 day moving average is C$175.87 and its 200-day moving average is C$969.65.

E-L Financial Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Thursday, July 17th were given a dividend of $0.04 per share. The ex-dividend date was Monday, June 30th. This represents a $0.16 annualized dividend and a dividend yield of 1.1%. E-L Financial's dividend payout ratio is currently 2.81%.

About E-L Financial

E-L Financial Corp Ltd operates as an investment and insurance holding company. The firm organizes itself into two segments namely E-L Corporate and Empire Life. The Empire Life operating segment underwrites life and health insurance policies and provides segregated funds, mutual funds, and annuity products whereas, the E-L Corporate segment operations include the oversight of investments in global equities held through holdings of common shares, investment funds, closed-end investment companies, and other private companies.