iA Financial Group announces the implementation of a normal course buyback offer


THE CITY OF QUEBEC, December 1, 2021 / CNW Telbec / – With the approval of the Toronto Stock Exchange, the board of directors of iA Financial Corporation inc. (“IA Financial Group” or the “Company”) has authorized the Company to purchase, in the normal course of its activities, from December 6, 2021 to December 5, 2022, up to 5,382,503 common shares, representing approximately 5 % of its 107,650,077 ordinary shares issued and outstanding as of November 23, 2021, all subject to the prior approval of the Autorité des marchés financiers.

“Over the past few months, the Company has invested in organic growth, made acquisitions and announced a significant increase in its dividend to common shareholders. Today, we are pleased to announce the establishment of a common share buyback program, which is another way of distributing the value that we create through our strong capabilities of organic capital generation and development. ‘other means’, commented Denis ricard, President and Chief Executive Officer of iA Financial Group.

Purchases will be made at the market price at the time of purchase through the facilities of the Toronto Stock Exchange or other Canadian trading system, in accordance with market rules and policies. Common shares purchased will be canceled. iA Financial Group believes that the purchase of its common shares represents an appropriate use of its funds and would be in the best interests of the Company and its shareholders.

The average daily trading volume in the Company’s common shares was 197,879 on the Toronto Stock Exchange during the last six full calendar months (“ADTV”). Since the Company has the right to purchase up to 25% of ADTV each trading day, it may purchase up to 49,469 common shares per day. Beyond this daily limit of 49,469 common shares, the Company may also purchase a block of common shares once per week, which may exceed this daily limit, as permitted by the Toronto Stock Exchange.

The decision of iA Financial Group to establish the takeover bid in the normal course of business follows a notice received from the Autorité des marchés financiers (“AMF”) on November 4, 2021 indicating that it had withdrawn its request to the financial institutions concerned to suspend share buybacks. The AMF adopted the suspension of share buybacks in early 2020 at the start of the COVID-19 pandemic. The Company has not purchased any of its common shares during the past twelve months.

In addition, iA Financial Group has entered into an automatic share buyback plan (the “Automatic Plan”). The automatic plan, which has been pre-authorized by the Toronto Stock Exchange, will provide for the potential repurchase of common shares at any time, including when the company would not normally be active in the market due to its blackout periods. self-imposed. , rules on insider trading or others. The actual number of Common Shares purchased under the Automatic Plan, the timing of such purchases and the price at which the Common Shares are purchased will depend on future market conditions.

Shareholders may obtain a copy of the documents filed with the Toronto Stock Exchange relating to this offering by writing to the Corporate Secretary of iA Financial Group.

Forward-looking statements
This press release may contain statements relating to the strategies used by iA Financial Group or statements which are predictive in nature, which depend on or refer to future events or conditions, or which include words such as “may”, ” will be “,” could “,” should “,” should “,” suspect “,” expect “,” anticipate “,” intend “,” plan “,” believe “,” estimate “and “Continue” (or the negative thereof), as well as words such as “objective”, “goal”, “direction” and “forecast” or other similar words or expressions. These statements constitute forward-looking statements within the meaning of securities laws. In this press release, forward-looking statements include, without limitation, information regarding possible or suspected future operating results. These statements are not historical facts; they represent only expectations, estimates and projections of future events and are subject to change, particularly in light of the ongoing and evolving COVID-19 pandemic, its effects on the global economy, and its uncertain impact on our operations.

Although iA Financial Group believes that the expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties, and such statements should not be relied on unduly. Certain important factors or assumptions are applied in forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Factors that could cause actual results to differ materially from expectations include, but are not limited to: general business and economic conditions; level of competition and consolidation; changes in laws and regulations, including tax laws; the liquidity of iA Financial Group, including the availability of financing to meet existing financial commitments on their scheduled maturity dates when required; the accuracy of information received from counterparties and the ability of counterparties to meet their obligations; the accuracy of accounting policies and actuarial methods used by iA Financial Group; insurance risks such as mortality, morbidity, longevity and policyholder behavior, including the occurrence of natural or man-made disasters, pandemic diseases (such as the current COVID-19 pandemic) and acts of terrorism.

Potential impacts of the COVID-19 pandemic – Since march 2020, the COVID-19 pandemic has had major and unprecedented implications for society and the economy. The overall impact of the COVID-19 pandemic is still uncertain and depends on many factors, such as the progression of the virus, the emergence of new variants, the duration of the pandemic, potential treatments and therapies, the availability of vaccines. , the effectiveness of government measures to slow the spread of the virus and the impact of these measures on the economy. Therefore, we cannot accurately predict the total impact that the pandemic will have, but the impact on iA Financial Corporation’s business and financial results could be significant. However, despite the negative short-term impacts of the pandemic on its results, iA Financial Corporation remains financially strong. In addition, iA Financial Corporation’s business continuity protocol continued, ensuring that the quality of service customers receive is the same as or better than before the pandemic and allowing employees and advisors to continue working with confidence. security.

Additional information on significant factors that could cause actual results to differ materially from expectations and on significant factors or assumptions applied in making forward-looking statements can be found in the “Risk Management” section of the MD&A. 2020, the “Management of risks associated with financial instruments” note to the audited consolidated financial statements for the year ended December 31, 2020, and elsewhere in documents filed by iA Financial Group with the Canadian Securities Administrators, which can be viewed at sedar.com.

The forward-looking statements contained in this press release reflect iA Financial Group’s expectations as of the date of this document. iA Financial Group does not undertake to update or publish revisions to these forward-looking statements to reflect events or circumstances subsequent to the date of this document or to reflect the occurrence of unforeseen events, except as required by the law.

About iA Financial Group
iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in United States. Founded in 1892, it is a major Canadian public corporation and is listed on the Toronto Stock Exchange under the symbols IAG (common stock) and IAF (preferred stock).

iA Financial Group is a trade name and trademark of iA Financial Corporation Inc. and Industrial Alliance Insurance and Financial Services Inc.

SOURCE iA Financial Group

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