iA Financial Group Reports Positive First Quarter Results
Quarterly dividend to common shareholders increased by 8%
FIRST QUARTER HIGHLIGHTS – iA Financial Corporation
- Reported EPS of $1.40 (+9% YoY) and ROE of 12.4% (trailing twelve months)
- Core EPS1 of $1.28 , near the middle of guidance of $1.25 to $1.35
- Solvency ratio of 124% at March 31, 2019 (120% at March 31, 2018) and debt ratio of 21.3%
- AUM/AUA of $181.0B at March 31, 2019 (+4% YoY)
- Book value per share of $48.79 at March 31, 2019 (+3% QoQ and +10% YoY)
- Dividend on common shares raised to 45.0 cents per share (+8%), payable in Q2 2019
The results presented below are for iA Financial Corporation Inc. (“iA Financial Corporation” or the “Company”), the holding company that owns 100% of the common shares of Industrial Alliance Insurance and Financial Services Inc. (“iA Insurance”) further to a plan of arrangement. The results for iA Insurance are presented in a separate section on page 4 of this document.
For the first quarter ended March 31, 2019, iA Financial Corporation (TSX: IAG) reports net income attributed to common shareholders of $151.1 million, diluted earnings per common share (EPS) of $1.40 and return on shareholders’ equity (ROE)1 for the last twelve months of 12.4%. Earnings guidance for the first quarter was $1.25 to $1.35 per share.