Life & Banc Split Corp. Declares Class A Share Distribution
TORONTO, Nov. 20, 2020 (GLOBE NEWSWIRE) -- (TSX: LBS) Life & Banc Split Corp. (“LBS”) is pleased to announce a distribution payable on December 14, 2020 to class A shareholders of record at the close of business on November 30, 2020 in the amount of $0.10 per class A share.
This distribution for the class A shares of LBS is being announced for November as the net asset value per unit of LBS as at November 19, 2020 (after taking into account the payment of the Class A distribution) was greater than $15.00. In accordance with the articles of incorporation for LBS, cash distributions may be paid on the class A shares, if after payment of the distribution, the net asset value per unit would be greater than $15.00. Each month, LBS reviews whether the net asset value per unit meets this requirement in order to determine if a class A share distribution will be announced for such month.
LBS offers a distribution reinvestment plan (“DRIP”) for class A shareholders which provides class A shareholders with the ability to automatically reinvest distributions, commission free, and realize the benefits of compound growth. Class A shareholders can enroll in a DRIP program by contacting their investment advisor.
About Brompton Funds
Founded in 2000, Brompton is an experienced investment fund manager with income focused investment solutions including TSX traded closed-end funds and exchange-traded funds. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email or visit our website at .
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