Split Corporation
Class A share & preferred share data · Live TSX data, updated daily
Class A (LCS) price
$11.65
$-0.06 today
Class A Yield
7.73%
Preferred Yield
6.46%
NAV / Unit
—
Downside Protection
54.9%
Dividend Coverage
—
Maturity Date
—
The fund issues two classes. Class A (LCS) pays a higher, variable monthly dividend and floats with the portfolio. Preferred shares rank ahead of Class A and give up upside for stability.
| Metric | Class A (LCS) | LCS.PR.A |
|---|---|---|
| Price | $11.65 | $10.84 |
| Current Yield | 7.73% | 6.46% |
| Dividend | Variable monthly | $0.1750 |
| 52-Week Range | $6.57–$12.96 | $10.18–$11.84 |
| Priority | Juniors — paid after preferreds | Senior — paid first, cumulative |
| Detail page | n/a (fund quote) | — |
LCS is a split corporation: a closed-end fund that splits a portfolio of dividend-paying stocks into two classes of shares with different risk-return profiles. Preferred shares — LCS.PR.A — receive a prioritized, cumulative monthly dividend; Class A shareholders give up that priority in exchange for a much higher yield.
Preferred holders' downside protection stands at 54.9%: the portfolio could fall that far before preferred shareholders' $25 redemption value is at risk.
LCS is a Canadian split corporation managed by its manager. It holds a portfolio of dividend-paying stocks and issues two classes of shares: Class A shares (higher yield, more risk) and preferred shares (prioritized, more stable dividends).
LCS is the Class A share — the equity class of the fund, with a higher (and variable) yield. LCS.PR.A is the preferred share class, which receives a prioritized cumulative dividend and ranks ahead of Class A. Downside protection is currently 54.9%.
Downside protection is the cushion preferred shareholders have before losing principal: it is the difference between the fund's net asset value per unit and the preferred shares' redemption value. For LCS it is currently 54.9%.