Life & Banc Split (TSE:LBS) Trading Up 2.1% – Here’s Why

Life & Banc Split Corp. (TSE:LBS)’s share price rose 2.1% during mid-day trading on Wednesday . The company traded as high as C$8.79 and last traded at C$8.77. Approximately 342,058 shares were traded during mid-day trading, an increase of 366% from the average daily volume of 73,452 shares. The stock had previously closed at C$8.59.

Life & Banc Split Stock Up 2.1 %

The company has a debt-to-equity ratio of 147.51, a current ratio of 1.66 and a quick ratio of 1.69. The firm has a market cap of C$400.61 million, a P/E ratio of 16.87 and a beta of 1.83. The firm’s 50-day moving average price is C$8.35 and its 200 day moving average price is C$7.90.

Life & Banc Split Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 16th were given a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.20 annualized dividend and a dividend yield of 13.68%. Life & Banc Split’s payout ratio is 230.77%.

Insider Activity

In other news, Senior Officer Laura Wing-Sze Lau sold 4,900 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$10.62, for a total value of C$52,038.00.

Life & Banc Split Company Profile

Life & Banc Split Corp. is a closed-ended equity mutual fund launched and managed by Brompton Funds Limited. The fund invests in the public equity markets of Canada. It seeks to invest in stocks of companies operating across banking and life insurance sector. The fund primarily invests in the stocks of the six largest banks of the country, as well as of life insurance companies, utilizing a split share structure on a low cost basis.