Life Partners Holdings, Inc. (Nasdaq GS: LPHI), parent company of Life Partners, Inc., announces today’s payment of a special cash dividend of $0.04 per share to shareholders of record as of January 31, 2011. Authorization of this special cash dividend was previously announced on January 6, 2011.
LPHI currently owns approximately 20% of the Life Settlement Trust which holds a portfolio of 266 life settlements with a face value of $689 million. This special dividend is based on the accumulated payouts from the Life Settlement Trust and is in addition to the company’s regular quarterly dividends.
The company plans to review accumulated payouts from the trust on a quarterly basis and to consider making a special dividend distribution when the payout accumulation reaches at least $750,000 at the end of a quarter.
Life Partners is the world's oldest and one of the most active companies in the United States engaged in the secondary market for life insurance, commonly called “life settlements.” Since its incorporation in 1991, Life Partners has completed over 128,000 transactions for its worldwide client base of over 27,000 high net worth individuals and institutions in connection with the purchase of over 6,400 policies totaling over $2.8 billion in face value.
Disclosure YES I am long LPHI shares.
Interesting post on lphi
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