Business News • MarketWire • Brompton Lifeco Split Corp. Announces Distribution |
Brompton Lifeco Split Corp. Announces Distribution |
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Brompton Lifeco Split Corp. Announces Distribution
TORONTO, ONTARIO--(Marketwire - Jan. 19, 2010) - Brompton Lifeco Split Corp. (TSX:LCS)(TSX:LCS.PR.A) is pleased to announce that a monthly distribution in the amount of $0.075 per class A share will be paid on February 12, 2010 to class A shareholders of record at the close of business on January 29, 2010.
Improvement in the market prices of the Canadian life insurance companies has resulted in an increase in net asset value per unit (consisting of one class A share and one preferred share) to $15.49 as at January 14, 2010, which allows the Fund to reinstate the monthly class A share distribution. In accordance with the class A share provisions and the prospectus, cash distributions may be paid on the class A shares, if after payment of the distribution by the Fund, the net asset value per unit is greater than $15.00. The Fund will continue to monitor its net asset value per unit on a monthly basis to determine whether the Fund will pay a class A distribution in each subsequent mon
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