Basic earnings per share of $2.37 is above market guidance for the quarter, and basic return on equity? 14.1% in the last 12 months
“Thanks to strong expected net income growth and a positive experience in our core business, core earnings per share in the second quarter are above market expectations. This excellent performance contributed to strong organic capital formation of approximately US$160 million, which strengthens the company’s financial strength and contributes to future value creation,” said Jacques Potvin, Executive Vice President, Chief Financial Officer and Chief Actuary.
Diluted basic earnings per common share (EPS) were $2.37 compared to $2.29 a year ago.
“Thanks to our excellent second quarter results and strong equity position, we are pleased to announce an 8% increase in dividends to common shareholders,” concludes Denis Ricard.
As a result, the Board of Directors of iA Financial Corporation announced a $0.05 dividend increase per ordinary share outstanding for the quarter ended June 30, 2022.
It also announced a quarterly dividend of $0.2875 on Series B Class A Noncumulative Preferred Stock and a $0.3000 quarterly dividend on Series I Class A Noncumulative Preferred Stock to be paid in cash 30 September. , 2022 to all registered holders of preference shares as of August 26, 2022