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CANADIAN Financials & Utilities Split Corp.
The Company has been created to provide investors with a low cost, diversified investment in a high quality portfolio comprised of Canadian banks, Canadian utilities and pipeline issuers and Canadian non-bank financial issuers, utilizing an innovative split share structure (the ''Portfolio''). Connor, Clark & Lunn Capital Markets Inc. (the Manager) has obtained a Pfd-1 rating on the Preferred Shares based on the securities included in the Portfolio and by introducing a unique leveraging and de-leveraging mechanism. The big six Canadian banks have a history of strong earnings growth, which has resulted in dividend increases and capital appreciation. Utilities and pipelines have business models which have historically generated predictable cash flows and they have tended to perform well in stable and declining interest rate environments. The non-bank financial issuers provide exposure to:
large capitalization financial issuers that have a history of strong capital appreciation and consistent increases in dividend or distribution rates; and real estate investment trusts (''REITs''), which have historically provided stable monthly distributions and capital appreciation and which the Manager expects will benefit from continued growth in the real estate sector and consolidation activity.
Performance Update
CANADIAN Financials & Utilities Split Corp. Performance Update — Third Quarter 2008
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