| Canadian Life
Companies Split Corp is a high quality portfolio consisting
of four publicly traded Canadian Life Insurance Companies. The portfolio
shares have demonstrated a strong share price appreciation since demutualization
and solid dividend growth.
Portfolio Holdings:
| Issuers |
|
|
|
| |
|
|
|
| Great-West Lifeco |
Industrial Alliance |
Manulife Financial |
Sun Life Financial |
Shares held within the Portfolio are
expected to range between 10-30% in weight but may vary from time to time.
Objectives
Preferred Shares:
(i) to provide holders of the Preferred Shares with fixed,
cumulative preferential monthly cash dividends in the amount of $0.04375
per Preferred Share to yield 5.25% per annum on the original issue price;
and
(ii) on or about December 1, 2012 (termination date),
to pay the holders of the Preferred Shares the original issue price of
those shares.
Class A Shares:
(i) to provide holders of the Class A Shares with regular
monthly cash dividends initially targeted to be $0.10 per Class A Share
to yield 8.0% per annum on the original issue price; and
(ii) on or about December 1, 2012 (termination date),
to pay the holders of Class A Shares at least the original issue price
of those shares.
| Preferred Share Highlights |
Class A Share Highlights |
Fixed cumulative monthly dividends (5.25%
or $0.525 per share annually)
Quality investments
Strong downside protection and asset coverage
DBRS Rating of P2 (low)
Competitive Yield
|
Monthly cash dividends (8.0% or $1.20
per share annually)
Quality investments
Leverage to performance of high quality stocks
Capital appreciation potential
Attractive alternative to other income vehicles |
|
