Lifeco Split Corporation Inc. Declares Quarterly Dividends

TORONTO, Sept. 27, 2011 /CNW/ - The Board of Directors of Lifeco Split Corporation Inc. ("Lifeco") has declared today dividends of $0.3684 per Preferred Share and $0.065 per Capital Share payable on October 31, 2011 to holders of record at the close of business on October 24, 2011.

Holders of Preferred Shares are entitled to receive quarterly fixed cumulative dividends equal to $0.3684 per Preferred Share representing a yield of 4% on the redemption price of $36.84.  The Company's Capital Share dividend policy is to pay a quarterly dividend on the Capital Shares if the downside asset coverage on the Preferred Shares is greater than or equal to 1.3 times during the quarter.  Providing this criteria is met, the Company's policy is to pay holders of Capital Shares quarterly dividends in an amount equal to the dividends received on the underlying portfolio securities minus the distributions payable on the Preferred Shares and all administrative and operating expenses.

Lifeco is a mutual fund corporation created to hold a portfolio of common shares of selected publicly listed Canadian life insurance companies.  Lifeco will generate a fixed quarterly dividend for the Preferred shareholders and provide the Capital shareholders with a leveraged investment, the value of which is linked to changes in the market price of the portfolio shares.

Capital Shares and Preferred Shares of Lifeco are listed for trading on The Toronto Stock Exchange under the symbols LSC and LSC.PR.C respectively.

SOURCE Lifeco Split Corporation Inc.

For further information:

Investor Relations
Lifeco Split Corporation Inc.
(416) 945-4166
E-mail: mc_lifeco@scotiacapital.com
Website: www.scotiamanagedcompanies.com

Profil de l'entreprise

Lifeco Split Corporation Inc.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.