S&P Dow Jones Indices Announces Changes to the S&P/TSX Canadian Dividend Aristocrats Index

Executive Summary

• Shareholders of First National Financial Corporation (TSX: FN) approved a Plan of Arrangement to sell the company to private‑equity funds managed by Birch Hill Equity Partners Management Inc. and Brookfield Asset Management.
• Each First National share will receive $48.00 cash as consideration for the transaction.
• Following the acquisition, First National Financial’s shares will be removed from the S&P/TSX Canadian Dividend Aristocrats Index effective before the market opens on Thursday, October 23, 2025.

Key Details

• The acquisition is being executed through a Plan of Arrangement approved by First National’s shareholders.
• Cash consideration: $48.00 per share of First National Financial Corporation.
• Acquiring parties: private‑equity funds managed by Birch Hill Equity Partners Management Inc. and Brookfield Asset Management.
• Index impact: First National Financial will be delisted from the S&P/TSX Canadian Dividend Aristocrats Index prior to trading on 23 Oct 2025.
• The removal reflects the change in eligibility criteria after the company is taken private.

Notable Quotes

(No direct quotes were provided in the release.)