Intact Financial Corporation Completes $150 Million Preferred Share Offering

Executive Summary

• Intact Financial Corporation closed a bought‑deal offering of Series 13 Non‑Cumulative Class A Preferred Shares, generating $150 million in gross proceeds.
• The net proceeds will be used for general corporate purposes.
• Each preferred share carries a quarterly non‑cumulative cash dividend of $0.34375 per share (initial dividend to be $0.5236 per share on 31 Mar 2026).

Key Details

• Offering Structure: Bought‑deal private placement of Series 13 Preferred Shares, underwritten by a syndicate led by BMO Capital Markets and National Bank Capital Markets, with CIBC Capital Markets, TD Securities, Scotiabank, and RBC Capital Markets as co‑bookrunners.
• Gross Proceeds: $150 million; net proceeds to be applied to general corporate purposes.
• Dividend Terms: Quarterly non‑cumulative preferential cash dividends payable on the last day of March, June, September, and December at $0.34375 per share; initial dividend (if declared) set at $0.5236 per share for 31 Mar 2026.
• Trading Symbol: Series 13 Preferred Shares began trading on the Toronto Stock Exchange under IFC.PR.M as of the announcement date.
• U.S. Offering Restrictions: The shares are not registered under the U.S. Securities Act and may not be offered or sold in the United States or to U.S. persons absent a registration exemption.

Notable Quotes

(No direct quotes were provided in the release.)