Canadian Life Companies Split Corp.: Update & Resumption of Dividends
09 Julio 2013 - 9:03AM
Marketwired
Canadian Life Companies Split Corp. (the "Company") is providing
the following update to its shareholders. The net asset value (NAV)
of the Company has grown over the past number of months due to
increasing valuations of its underlying portfolio of life insurance
companies. The Company invests primarily in the common shares of
Manulife Financial, Sun Life Financial, Great-West Lifeco, and
Industrial Alliance. The NAV of the Company today is approximately
$14.50 ($13.68 fully diluted). This provides an intrinsic value for
the Class A shareholder (LFE) of approximately $4.50 ($3.68 fully
diluted). The Company would also like to take this opportunity to
re-iterate its dividend policy on its Class A shares. The Company
is restricted from paying dividends on its Class A shares until the
undiluted NAV reaches $15.00. When, and if, the undiluted NAV
exceeds $15.00, dividends will be re-instated.
Canadian Life Companies Split Corp. is an investment fund
managed and advised by Quadravest Capital Management Inc.
Contacts: Canadian Life Companies Split Corp. Investor Relations
416-304-4443 or toll free at 1-877-4-Quadra (1-877-478-2372)
www.lifesplit.com
Canadian Life Companies ... (TSX:LFE)
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