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Overnight Offering Announced
Globenewswire· 2026-02-03 20:17
Core Viewpoint - Canadian Life Companies Split Corp. is initiating an offering of Preferred Shares and Class A Shares, with the offering led by National Bank Financial Inc. [1] Offering Details - The sales period for the overnight offering will conclude at 8:30 a.m. EST on February 4, 2026, with an expected closing date around February 11, 2026, pending TSX approval [2] - Preferred Shares are priced at $10.45 each, while Class A Shares are priced at $7.65 each [2] Share Performance and Dividends - As of February 2, 2026, the closing prices were $10.53 for Preferred Shares and $7.83 for Class A Shares [3] - Total dividends declared since inception are $12.85 per Preferred Share and $9.85 per Class A Share, amounting to a combined total of $22.70 per unit [3] - All distributions have been made in tax-advantaged eligible Canadian dividends or capital gains dividends [3] Investment Strategy - The net proceeds from the offering will be allocated to an actively managed portfolio primarily consisting of four publicly traded Canadian life insurance companies: Great‐West Lifeco Inc., iA Financial Corporation Inc., Manulife Financial Corporation, and Sun Life Financial Inc. [4] Investment Objectives - For Preferred Shares, the company aims to provide fixed, cumulative preferential monthly cash dividends at a rate of the greater of 7.00% or Prime Rate plus 2% (capped at 9%) annually based on the $10.00 original issue price, with a return of the original $10 issue price by December 1, 2030 [6] - For Class A Shares, the objective is to provide regular monthly cash dividends as determined by the directors, with remaining amounts paid to Class A shareholders after fulfilling obligations to Preferred Shareholders by December 1, 2030 [6]
Brompton Lifeco Split Corp. Announces Class A Share Split and an Increase to Total Distributions
Globenewswire· 2026-01-19 22:04
Core Viewpoint - Brompton Lifeco Split Corp. plans to execute a stock split of its class A shares due to strong performance, with class A shareholders receiving 20 additional shares for every 100 shares held, pending approval from the Toronto Stock Exchange [1] Group 1: Stock Split Details - The stock split will take effect for class A shareholders of record on January 27, 2026, and is subject to TSX approval [1] - Following the stock split, class A shareholders will continue to receive monthly cash distributions targeted at $0.075 per share, leading to an expected increase of approximately 20% in total distributions [2][4] - The class A shares will begin trading on an ex-split basis on January 27, 2026, with no fractional shares issued, and the split is a non-taxable event [4] Group 2: Performance Metrics - Over the past 10 years, class A shares have delivered a total return of 20.7% per annum based on net asset value, outperforming the S&P/TSX Capped Financials Total Return Index by 6.1% and the S&P/TSX Composite Total Return Index by 8% [3][8] - Since inception, class A shareholders have received cash distributions totaling $10.08 per share [3] - The fund's class A shares have shown strong compound annual returns, with a 43.8% return over 1 year and 20.7% over 10 years [8] Group 3: Fund Composition - The fund invests in a portfolio of common shares from Canada's four largest publicly-listed life insurance companies: Great-West Lifeco Inc., iA Financial Corporation Inc., Manulife Financial Corporation, and Sun Life Financial Inc., on an approximately equal weight basis [5]
Dividend 15 Split Corp. Announces Successful Overnight Offering of Preferred Shares
Globenewswire· 2026-01-16 14:09
Core Viewpoint - Dividend 15 Split Corp. has successfully completed the overnight marketing of Preferred Shares, raising approximately $142.6 million, with the offering led by National Bank Financial Inc. [1] Group 1: Offering Details - The offering is expected to close on or about January 23, 2026, pending approval by the TSX [2] - Preferred Shares are priced at $10.45 each, with a closing price of $10.53 on January 15, 2026 [2] - The net proceeds will be invested in a high-quality portfolio of dividend-yielding Canadian companies, including major banks and corporations [2] Group 2: Investment Objectives - The investment objectives for the Preferred Shares include providing holders with fixed, cumulative preferential monthly cash dividends of 7.00% annually based on the original $10 issue price [4] - On or about the termination date, currently set for December 1, 2029, the company aims to return the original $10 issue price to holders of the shares [4] Group 3: Regulatory Information - A prospectus supplement will be filed with securities commissions in all provinces of Canada, containing detailed information about the Preferred Shares and Class A Shares being offered [3] - No sales or acceptance of offers to buy the securities will occur until the prospectus supplement is filed [3]
Dividend 15 Split Corp. Announces Overnight Offering of Preferred Shares
Globenewswire· 2026-01-15 20:20
Core Viewpoint - Dividend 15 Split Corp. is launching an offering of Preferred Shares to invest in a high-quality portfolio of dividend-yielding Canadian companies [1][3]. Group 1: Offering Details - The sales period for the Preferred Shares offering will end at 8:30 a.m. EST on January 16, 2026, with an expected closing date around January 23, 2026, pending TSX approval [2]. - The Preferred Shares will be priced at $10.45 each, while the closing price on January 14, 2026, was $10.52 [2]. Group 2: Dividend Information - Since its inception, the Company has paid a total of $11.75 per share in dividends on the Preferred Shares, all of which are tax-advantaged eligible Canadian dividends [3]. - The investment objectives for the Preferred Shares include providing fixed, cumulative preferential monthly cash dividends at an annual rate of 7.00% based on the original $10 issue price [4]. Group 3: Investment Portfolio - The proceeds from the offering will be used to invest in a portfolio of notable Canadian companies, including Bank of Montreal, Enbridge Inc., TC Energy, and others [3].
Dividend 15 Split Corp. At-The-Market Equity Program Renewed
Globenewswire· 2025-11-27 14:00
Core Viewpoint - Dividend 15 Split Corp. has renewed its at-the-market equity program, allowing the issuance of shares until October 6, 2026, with a maximum gross proceeds of $600 million [1][2]. Group 1: ATM Program Details - The renewed ATM Program replaces the previous program that ended in September 2024 and allows the Company to issue Class A Shares and Preferred Shares at prevailing market prices [1][2]. - Sales will occur through the Toronto Stock Exchange or other Canadian marketplaces, with the distribution governed by an equity distribution agreement with National Bank Financial Inc. [1][2][3]. - The volume and timing of distributions will be determined at the Company's discretion, and proceeds will align with the Company's investment objectives and strategies [3]. Group 2: Investment Portfolio - The Company invests in a high-quality portfolio of leading Canadian dividend-yielding stocks, including major banks and corporations such as Bank of Montreal, Royal Bank of Canada, and BCE Inc. [4].
Sun Life Financial Inc. (SLF:CA) Presents at Desjardins Toronto Conference Transcript
Seeking Alpha· 2025-11-25 21:23
Strategic Priorities - The company is focusing on three to four strategic priorities that are essential for its growth and development [1] - There is a strong emphasis on reflecting on past accomplishments and planning for future initiatives [2] Asset Management Business - The company has achieved significant growth in its asset management sector, becoming Canada's largest asset manager with over $1.6 trillion in assets under management [3] - A recent organizational change has been made to formalize the asset management pillar under common leadership, which aims to enhance synergies between the asset management and insurance segments of the business [3]
ABSLI launches dividend yield fund for ULIP investors
BusinessLine· 2025-11-06 12:26
Core Viewpoint - Aditya Birla Sun Life Insurance Company Ltd has launched a new Dividend Yield Fund aimed at long-term wealth creation through investments in high dividend-paying companies, available for subscription until November 20, 2025 [1][2]. Group 1: Fund Details - The Dividend Yield Fund targets long-term wealth creation by investing in high dividend-paying companies, offering up to 100% equity exposure with at least 75% allocated to equity and equity-related instruments [2]. - The asset allocation of the fund comprises 80-100% in equities and up to 20% in debt instruments, money market, and cash [2]. - The fund is available under ABSLI's Wealth Infinia Plan, Vision Retirement Solution, and Nischit Wealth Solution [3]. Group 2: Management Strategy - The fund employs an active management strategy focusing on bottom-up stock selection to identify companies with strong fundamentals and consistent dividend track records [3]. Group 3: Company Overview - The MD and CEO Kamlesh Rao stated that the fund is designed for policyholders seeking stability alongside growth through financially strong, dividend-paying companies [4]. - The fund aims to balance protection and performance while helping investors achieve long-term financial goals [4]. - As of September 30, 2025, ABSLI reported total assets under management of ₹104,492 crore and operates through over 440 branches, serving 2.864 million active customers nationwide [5].
Canadian Life Companies Split Corp. At-The-Market Equity Program Renewed
Globenewswire· 2025-10-07 13:00
Core Viewpoint - Canadian Life Companies Split Corp. has renewed its at-the-market equity program, allowing the issuance of shares until June 1, 2026, unless terminated earlier [1][2]. Group 1: ATM Program Details - The renewed ATM Program replaces the previous program established in May 2024 and allows the Company to issue Class A Shares and Preferred Shares at prevailing market prices [1][2]. - The maximum gross proceeds from the issuance of shares under the ATM Program will be $140,000,000 [2]. - Sales will be conducted through the Toronto Stock Exchange or other Canadian marketplaces, with the timing and volume of distributions determined at the Company's discretion [2][3]. Group 2: Investment Strategy - The Company invests in an actively managed portfolio primarily consisting of four publicly traded Canadian life insurance companies: Great‐West Lifeco Inc., Industrial Alliance Insurance & Financial Services Inc., Manulife Financial Corporation, and Sun Life Financial Inc. [4].
Johanne Papillon and Yousry Bissada join the Board of Directors of iA Financial Corporation Inc.
Businesswire· 2025-09-12 13:00
Core Viewpoint - iA Financial Corporation Inc. has appointed Johanne Papillon and Yousry Bissada to its Board of Directors, effective September 23, 2025, enhancing its leadership team with experienced professionals in the financial services sector [1] Group 1 - Johanne Papillon brings over 25 years of experience in the Canadian financial services industry [1] - From January 2020 to December 2022, she served as Senior Vice-President, Business & Financial Implications, IFRS 17/9 at Sun Life Financial Inc. [1] - Yousry Bissada's background and experience details were not provided in the document [1]
Sun Life Financial Inc. (SLF:CA) Barclays 23rd Annual Global Financial Services Transcript
Seeking Alpha· 2025-09-11 01:18
Core Insights - The company has successfully pivoted towards capital-light businesses and enhanced its asset management capabilities over the past decade, which has proven to be a beneficial strategy [1]. Business Mix - Currently, the company's earnings are well-diversified, with 40% coming from global asset management, approximately one-third from Group Health & Protection businesses, and about 25% from individual life insurance [2].