LFE.PR.A: Dividends on Capital Units Suspended

Better late than never! Canadian Life Companies Split Corp announced on Dec. 18:

There will not be a distribution paid to the Class A shares for December 31, 2008 as per the Prospectus which states no regular monthly dividends or other distributions will be paid on the Class A shares in any month as long as the net asset value per unit is equal to or less than $15.00. The net asset value as of December 15, 2008 was $13.65.

The NAV on March 31 was $11.69 according to the company.

LFE.PR.A was last mentioned on PrefBlog when it was downgraded to Pfd-4 by DBRS. LFE.PR.A is tracked by HIMIPref™ but was relegated to the “Scraps” index in the March 2009 rebalancing due to credit concerns.

One Response to “LFE.PR.A: Dividends on Capital Units Suspended”

  1. […] surprising lack of fanfare in this announcement – dividends to the Capital Units were suspended in December but the NAV has recovered to $15.26 as of July […]

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