Lifeco Split Corporation Inc. Declares Quarterly Dividends
Holders of Preferred Shares are entitled to receive quarterly fixed cumulative dividends equal to $0.5119 per Preferred Share. 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
For further information: Investor Relations: Lifeco Split Corporation Inc., (416) 945-4166, E-mail: [email protected], Website: www.scotiamanagedcompanies.com
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