Canadian Life Companies Split (TSE:LFE) Stock Jumps 3.4% – Time to Buy?

Canadian Life Companies Split Corp. (TSE:LFE) shot up 3.4% on Tuesday. The stock traded as high as C$8.87 and last traded at C$8.83. 93,069 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 116,178 shares. The stock had previously closed at C$8.54.

Canadian Life Companies Split Price Performance

The firm has a market cap of C$194.90 million, a PE ratio of 2.45 and a beta of 3.15. The company has a quick ratio of 1.32, a current ratio of 1.81 and a debt-to-equity ratio of 124.90. The stock has a 50 day moving average price of C$8.85 and a two-hundred day moving average price of C$8.39.

Canadian Life Companies Split Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 10th were given a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 13.4%. The ex-dividend date of this dividend was Friday, July 31st. Canadian Life Companies Split’s dividend payout ratio (DPR) is presently 32.79%.

Canadian Life Companies Split Company Profile

The Companys investment objectives are (i) to provide holders of 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 (ii) to provide holders of Class A Shares with regular monthly cash distributions targeted to be $0.10 per Class A Share to yield 8.0% per annum on the original issue price and (iii) to return the original issue price to holders of both Preferred Shares and Class A Shares at the time of the redemption of such shares on December 1, 2012.