IGM FINANCIAL REPORTS RECORD FOURTH QUARTER AND FULL YEAR 2025 ADJUSTED EARNINGS AND ANNOUNCES DIVIDEND INCREASE OF 10%

Executive Summary

• IGM Financial reported record fourth-quarter and full-year 2025 adjusted net earnings, with Q4 adjusted net earnings reaching $301.4 million (up 20.6% year-over-year) and full-year adjusted net earnings totaling $1,093.1 million.
• The company announced a 10% increase in its quarterly dividend, raising it from $0.5625 to $0.62 per share, payable on April 30, 2026.
• Assets under management and advisement (AUM&A) reached an all-time high of $310.1 billion, driven by strong net inflows of $2.2 billion in Q4 and significant growth in both Wealth Management and Asset Management segments.

Key Details

• Q4 2025 Financial Performance:
  • Adjusted net earnings: $301.4 million (vs. $250.0 million in Q4 2024), or $1.27 per share.
  • Net earnings: $322.4 million (vs. $254.7 million in Q4 2024), or $1.36 per share.
  • Adjusted earnings per share: $1.27 (vs. $1.05 in Q4 2024).
• Full Year 2025 Financial Performance:
  • Adjusted net earnings: $1,093.1 million or $4.61 per share (vs. $939.0 million or $3.95 per share in 2024).
  • Net earnings: $1,101.0 million or $4.64 per share (vs. $933.5 million or $3.93 per share in 2024).
• Dividend Increase:
  • Quarterly dividend increased by 10% from $0.5625 to $0.62 per share.
  • Payable on April 30, 2026, to shareholders of record on March 31, 2026.
• Assets Under Management & Advisement (AUM&A):
  • Consolidated AUM&A: $310.1 billion (up 14.7% from Q4 2024).
  • AUM&A including strategic investments: $566.2 billion (up 17.1% from Dec 31, 2024).
• Net Flows:
  • Q4 2025 net inflows: $2.2 billion (vs. $244 million in Q4 2024).
  • Full year 2025 net inflows: $8.8 billion.
• Wealth Management Segment:
  • Adjusted net earnings: $177.7 million (up 33.7% from Q4 2024).
  • Assets under advisement (including strategic investments): $234.0 billion.
  • IG Wealth Management AUA: $158.9 billion (record high, up 13.2% from Dec 31, 2024).
  • IG Wealth Management Q4 net client inflows: $694 million; gross client inflows: $4.8 billion.
  • Wealthsimple investment fair value: $2.3 billion (up from $2.2 billion in prior quarter due to $100 million investment).
  • Rockefeller transaction: IGM received $394.2 million in proceeds (primarily return of capital and equity sale); IGM’s interest decreased to 17.2%.
• Asset Management Segment:
  • Adjusted net earnings: $88.6 million (up 1.3% from Q4 2024).
  • Assets under management (including strategic investments): $427.5 billion.
  • Mackenzie Investments total AUM: $244.0 billion (record high, up 14.4% from Dec 31, 2024).
  • Mackenzie third-party AUM: $151.1 billion.
  • Mackenzie Q4 total net sales: $1.5 billion (vs. net redemptions of $309 million in Q4 2024).
  • ETF AUM: $24.1 billion total; $12.5 billion excluding IGM managed products.
  • ChinaAMC proportionate share of Q4 earnings: $22.0 million.
• Corporate and Other:
  • Lifeco proportionate share of Q4 earnings: $26.0 million.
  • Lifeco proportionate share of Q4 base earnings: $31.1 million.

Notable Quotes

• "IGM's financial position has never been stronger," said James O'Sullivan, President and Chief Executive Officer of IGM Financial Inc. "With record levels of client assets and earnings combined with $1 billion in unallocated capital and low debt levels, we enter 2026 focused on returning capital to our shareholders. In addition, our strategic position is strong with outstanding companies in the wealth management and asset management industries that will provide ongoing growth and diversification as we look ahead."