In a release issued under the same headline earlier today by Industrial Alliance Insurance and Financial Services Inc., the record date was incorrect. The complete, corrected release follows:
QUEBEC CITY, Feb. 28, 2023 /CNW/ - Further to the approval of the Autorité des marchés financiers (Québec), Industrial Alliance Insurance and Financial Services Inc. ("iA Insurance") announces that it has sent today to all shareholders of its Non-Cumulative 5-Year Rate Reset Class A Preferred Shares Series I (the "Series I Preferred Shares") a formal notice and instructions for the redemption of the Series I Preferred Shares outstanding as of today. Upon the Series I Redemption scheduled for March 31, 2023, iA Insurance will pay to the holders of the Series I Preferred Shares the redemption price of $25 less any taxes required to be withheld or deducted. There are 6,000,000 Series I Preferred Shares outstanding as of today.
Separately from the redemption price, the final quarterly dividend of $0.3000 per Series I Preferred Share will be paid in the usual manner on March 31, 2023 to shareholders of record on February 24, 2023. After the Series I Preferred Shares are redeemed, holders of Series I Preferred Shares will cease to be entitled to distributions of dividends and will not be entitled to exercise any rights as holders other than to receive the redemption price and the final quarterly dividend described above.
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 an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbols IAG (common shares) and IAF (preferred shares).
ia.ca
iA Financial Group is a business name and trademark of iA Financial Corporation Inc. and Industrial Alliance Insurance and Financial Services Inc.
SOURCE iA Financial Group
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