Bad Job, SunLife!

The last dividend paid on the SunLife preferreds (SLF.PR.A, SLF.PR.B, SLF.PR.C, SLF.PR.D & SLF.PR.E) had an ex-dividend date of November 17, 2008.

Therefore, it is reasonable to pencil in February 17, 2009 as the ex-dividend date for the current dividend. And therefore, I assert, it is reasonable to expect that the dividend will be declared by February 11, 2009, regardless of the actual details of record and payment date.

‘Nope!’ says SunLife. ‘Can’t be bothered!’

The current dividend has not yet been declared and there is nothing on SunLife’s Investor Relations page to indicate any kind of schedule.

SunLife releases their 4th Quarter Earnings tomorrow and I can only speculate that some Moronic Boomer Asshole has determined that it would be efficient to release dividend details at the same time.

There is no doubt in my mind regarding payment of the current dividend; I have guessed at:

  • Ex-Date 2/17
  • Record-Date 2/19
  • Pay-Day 3/31

but it’s only a guess.

Sunlife’s carelessness in leaving the declaration so late – with no indication of the dates that are anticipated – shows a contempt for its shareholders. Get with the programme, guys!

Update, 2009-2-12: SunLife has announced:

the following quarterly dividends on its Class A Non-Cumulative Preferred Shares payable on March 31, 2009 to shareholders of record at the close of business on February 25, 2009: $0.296875 per Series 1 share; $0.30 per Series 2 share; $0.278125 per Series 3 share; $0.278125 per Series 4 share; and $0.28125 per Series 5 share.

One Response to “Bad Job, SunLife!”

  1. mpisni says:

    Hi James, you shouldn’t beat around the bush and tell us what you really think of thier decision makers. as a SLF Pref shareholder I agree with you

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