LBS.PR.A Releases 11H1 Report

Life & Banc Split Corp. has released its Semi-Annual Report to June 30, 2011.

Figures of interest are:

MER: 0.99% of the whole unit value.

Average Net Assets: We need this to calculate portfolio yield, but it’s very rough due to the issuance of $63-million worth of new units on February 22 via a warrant offering. Try [190.8-million (NAV, beginning of period) + 250.3-million (NAV, end of period)] / 2 = about 221-million

Underlying Portfolio Yield: Total income of 4,367,129, times two (semi-annual) divided by average net assets of 221-million is 3.95%.

Income Coverage: Net Investment Income was 3,076,865. Preferred Share Distributions were 3,582,177, but don’t count the 0.13125 dividends on the 3,341,143 preferreds issued in March totalling 438,525. So net preferred dividends were 3,143,652, so Income Coverage is 98%.

This entry was posted on Sunday, September 11th, 2011 at 11:08 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “LBS.PR.A Releases 11H1 Report”

  1. LBS.PR.A « PrefBlog says:
    June 10, 2012 at 12:12 pm

    […] was last mentioned on PrefBlog when their 12H1 Semi-annual report was […]

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