TORONTO, June 15, 2017 /CNW/ - First National Financial Corporation (TSX: FN,TSX: FN.PR.A,TSX: FN.PR.B) (the "Company" or "FNFC") today announced that Peter Copestake, a director serving since 2008, is stepping down from the Board of Directors. "We thank Peter for his over nine years of service to the Company during a period of high growth for First National," said Stephen Smith, Chairman and CEO. "In particular the Company appreciates Peter's role as chair of the Governance Committee and member of the Audit Committee."
The Company also announced its monthly dividend payment of $0.154167 per common share for the period June 1 to June 30, 2017. The dividend will be payable on July 14, 2017 to shareholders of record at the close of business on June 30, 2017. Regarding the Company's Class A Series 1 Preference Shares ("Series 1 Preference Shares") and Class A Series 2 Preference Shares ("Series 2 Preference Shares") for the period April 1 to June 30, 2017, the Company announced a dividend of $0.174375 per Series 1 Preference Share and dividend of $0.158938 per Series 2 Preference Share will be payable on July 14, 2017 to holders of record at the close of business on June 30, 2017.
With respect to the Class A Series 2 Preference Shares, the dividend rate for the period July 1 to September 30, 2017 has been set at 2.599%, as determined in accordance with the terms of the Series 2 Preference Shares.
About First National Financial Corporation
First National Financial Corporation (TSX:FN,TSX:FN.PR.A,TSX:FN.PR.B) is the parent company of First National Financial LP, a Canadian-based originator, underwriter and servicer of predominantly prime residential (single-family and multi-unit) and commercial mortgages. With almost $100 billion in mortgages under administration, First National is Canada's largest non-bank originator and underwriter of mortgages and is among the top three in market share in the mortgage broker distribution channel. For more information, please visit www.firstnational.ca.
SOURCE First National Financial Corporation
For further information: Robert Inglis, Chief Financial Officer, First National Financial Corporation, Tel: 416-593-1100, Email: firstname.lastname@example.org; Ernie Stapleton, President, Fundamental Creative Inc., Tel: 905-648-9354, Email: email@example.com