Canadian Life Companies Split Corp. Extends Termination Date
TORONTO, March 12, 2024 (GLOBE NEWSWIRE) -- Canadian Life Companies Split Corp. (the “Company”) is pleased to announce it will extend the termination date of the Company a further six year period from December 1, 2024 to December 1, 2030.
- TORONTO, March 12, 2024 (GLOBE NEWSWIRE) -- Canadian Life Companies Split Corp. (the “Company”) is pleased to announce it will extend the termination date of the Company a further six year period from December 1, 2024 to December 1, 2030.
- The term extension allows holders of LFE Class A Shares (“Class A Shares”) to receive ongoing leveraged exposure to a portfolio consisting of high-quality Canadian life insurance companies as well as receiving targeted monthly distributions.
- Holders of LFE.PR.B Preferred Shares (“Preferred Shares”) are expected to continue to benefit from cumulative preferential monthly distributions.
- The Company invests in a portfolio of four publicly traded Canadian life insurance companies as follows: Great‐West Lifeco Inc., Industrial Alliance Insurance & Financial Services Inc., Manulife Financial Corporation and Sun Life Financial Inc.