Life & Banc Split Corp. Announces Class A Share Split
Life & Banc Split Corp. (TSX: LBS, LBS.PR.A) is thrilled to inform its shareholders of an impending class A share split, a strategic move fueled by the Fund’s impressive performance. This decision reflects the ongoing commitment of Life & Banc Split Corp. to enhance value for its investors.
Details of the Class A Share Split
Class A shareholders who are on record at the close of business will be delighted to receive an additional 10 class A shares for every 100 class A shares held. This initiative is set to take effect shortly, with trading expected to commence on an ex-split basis. The anticipated date for the commencement of this trading iteration is outlined, reflecting a minor typographical adjustment in the previous announcement.
Cash Distributions to Increase
This class A share split is poised not just to increase the number of shares in circulation but also aims to boost the total dollar amount of distributions paid to class A shareholders by roughly 10%. Shareholders can expect ongoing delivery of regular monthly cash distributions targeted at $0.10 per class A share post-split.
Proven Performance Over the Years
Over the past decade, Life & Banc Split Corp.'s class A shares have showcased a remarkable 20.5% annual return based on net asset value, significantly outpacing both the S&P/TSX Capped Financials Total Return Index and the S&P/TSX Composite Total Return Index. This performance has led to an impressive cumulative cash distribution of $20.95 for each shareholder since inception.
Portfolio Composition and Downside Protection
The Fund invests evenly across a diverse portfolio, which includes shares from the six largest Canadian banks and four major publicly traded Canadian life insurance companies. This diversified investment horizon enhances the Fund's resilience and growth potential.
Expected Downside Protection
After the share split, it is anticipated that the preferred shares within the Fund will exhibit a downside protection of approximately 52%. This aspect further adds to the security of each investment within the portfolio, ensuring investor confidence even amidst fluctuating market conditions.
About Brompton Funds
Founded in 2000, Brompton is an esteemed investment fund manager dedicated to offering income and growth-focused solutions, primarily through exchange-traded funds (ETFs) and other investment funds traded on the TSX. They strive to provide comprehensive investment opportunities for their clients.
Contact Information
For further assistance regarding your investments or inquiries about the fund’s operations, you can reach out to your investment advisor or connect with Brompton’s investor relations team at 416-642-6000, toll-free at 1-866-642-6001. Alternatively, you can send an email to info@bromptongroup.com or browse their website for more insights at www.bromptongroup.com.
Frequently Asked Questions
What is the reason for the class A share split?
The class A share split is a reflection of the strong performance of the Fund, aimed at increasing returns for investors.
How will this impact the cash distributions?
Following the split, the total cash distributions are expected to increase by approximately 10%, enhancing the financial benefits for shareholders.
When will the split take effect?
The class A shares are expected to begin trading on an ex-split basis shortly, after the record date for shareholders.
What is Brompton’s investment strategy?
Brompton focuses on a balanced portfolio consisting of shares from prominent Canadian banks and life insurance companies, ensuring diversification and stability.
Who should I contact for more information?
If you have questions or require further details, you can contact Brompton’s investor relations or your own investment advisor for guidance.
