QUEBEC CITY, Feb. 14, 2019 /CNW Telbec/ - The Board of Directors of iA Financial Corporation Inc. (TSX: IAG) announced today the payment of the first quarterly dividend of iA Financial Corporation Inc. since the effective date of the plan of arrangement under which it became the new holding company for iA Financial Group. The dividend to be paid is $0.4150 per outstanding common share. This dividend will be payable on March 15, 2019, to all common shareholders of record at the close of business on March 1, 2019.
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 22, 2019, 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 April 1, 2019, to preferred shareholders of record at March 1, 2019.
- The payment of a dividend of $0.2360625 per Non-Cumulative Class A Preferred Share – Series G. This dividend is payable in cash on April 1, 2019, to preferred shareholders of record at March 1, 2019.
- The payment of a dividend of $0.3000 per Non-Cumulative Class A Preferred Share – Series I. This dividend is payable in cash on April 1, 2019, to preferred shareholders of record at March 1, 2019.
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
Founded in 1892, iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. It is listed on the Toronto Stock Exchange under the ticker symbol IAG.
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 will 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 the common shares previously issued by iA Insurance. Following the arrangement, iA Insurance remains a "reporting issuer" as defined in securities regulations.
SOURCE Industrial Alliance Insurance and Financial Services Inc.
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