iA Financial Corporation Inc. Announces 7.8% Increase in the Dividend on Its Common Shares and Industrial Alliance Insurance and Financial Services Inc. Announces the Payment of a Dividend on Its Preferred Shares
The Board of Directors of iA Financial Corporation Inc. (TSX: IAG) announced today an increase of $0.035 in the dividend per outstanding common share for the quarter ended December 31, 2019, raising it to $0.4850. This dividend will be payable on March 16, 2020, to all common shareholders of record at the close of business on February 28, 2020.
iA Financial Corporation Inc. reminds common shareholders who wish to enrol in iA Financial Corporation Inc.’s Dividend Reinvestment and Share Purchase Plan (“DRIP”) that they must do so no later than 4:00 p.m. on February 21, 2020, in order to reinvest the next dividend. To enrol, go to the company’s website at ia.ca, under About iA, in the Investor Relations/Dividends section. Please note that the common shares issued under the DRIP will be purchased on the secondary market and that no discount will apply.
In addition, the Board of Directors of Industrial Alliance Insurance and Financial Services Inc. (TSX: IAF) announced today:
- The payment of a dividend of $0.2875 per Non-Cumulative Class A Preferred Share – Series B. This dividend is payable in cash on March 31, 2020, to preferred shareholders of record at February 28, 2020.
- The payment of a dividend of $0.2360625 per Non-Cumulative Class A Preferred Share – Series G. This dividend is payable in cash on March 31, 2020, to preferred shareholders of record at February 28, 2020.
- The payment of a dividend of $0.3000 per Non-Cumulative Class A Preferred Share – Series I. This dividend is payable in cash on March 31, 2020, to preferred shareholders of record at February 28, 2020.
For the purposes of the Income Tax Act (Canada) and any corresponding provincial or territorial tax legislation, all dividends paid by iA Financial Corporation Inc. on its common shares and by Industrial Alliance Insurance and Financial Services Inc. on its preferred shares are eligible dividends.
About iA Financial Group
iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is one of Canada’s largest public companies and is listed on the Toronto Stock Exchange under the ticker symbols IAG (common shares) and IAF (preferred shares).
Effective January 1, 2019, Industrial Alliance Insurance and Financial Services Inc. (“iA Insurance”) is a subsidiary all of whose common shares are held by iA Financial Corporation Inc. (“iA Financial Corporation”), a holding company that comprises all iA Financial Group activities. Under the terms of a plan of arrangement (the “arrangement”), all the common shares of iA Insurance outstanding at January 1, 2019 have been exchanged for newly issued common shares of iA Financial Corporation on a one-for-one basis. Issued and outstanding series of preferred shares and debentures remain issued by iA Insurance and have been guaranteed by iA Financial Corporation in accordance with the terms of the arrangement. iA Financial Corporation is a “successor issuer” of iA Insurance as defined in securities regulations with respect to previously issued common shares of iA Insurance. Following the arrangement, iA Insurance remains a “reporting issuer” as defined in securities regulations.