TORONTO, July 5, 2012 /CNW/ - The Board of Directors of Lifeco Split
Corporation Inc. ("Lifeco") has declared today dividends of $0.3684 per
Preferred Share and $0.2 per Capital Share payable on July 31, 2012 to
holders of record at the close of business on July 27, 2012.
The Capital Shares and Preferred Shares will be redeemed by the Company
on July 31, 2012 (the "Redemption Date") in accordance with the
redemption provisions as detailed in the Information circular dated
June 15, 2010. Pursuant to these provisions, the Preferred Shares will
be redeemed at a price per shares equal to the lesser of $36.84 and the
Net Asset Value per Unit. The Capital Shares will be redeemed at a
price equal to the amount by which the Net Asset Value per unit exceeds
A further press release will be issued by the Company in connection with
the redemption prices on July 30, 2012. Payment of the amounts due to
holders of Capital Shares and Preferred Shares will be made by the
Company on July 31, 2012.
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
SOURCE Lifeco Split Corporation Inc.
For further information:
Lifeco Split Corporation Inc.