Canadian Life Companies Split Corp. Class A (TSE:LFE) has released an update.
Canadian Life Companies Split Corp. has announced an extension of its termination date from December 1, 2024, to December 1, 2030, offering shareholders extended leveraged exposure to a select portfolio of Canadian life insurance companies and ongoing distribution benefits. The extension is designed to provide tax deferral advantages to both Class A and Preferred Shareholders, while also introducing a Special Retraction Right based on the November 29, 2024, net asset value. Additionally, the Company may revise the dividend entitlement for Preferred Shares in accordance with market yields, to be announced by September 30, 2024.
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