News Column

SYMBOL:TSX:IFC

February 5, 2014

TORONTO - Intact Financial Corp. (TSX:IFC) says a major December ice storm in Ontario and Quebec drove down its fourth-quarter results significantly but its dividend to shareholders will be going up. Canada's largest property and casualty insurer says its fourth-quarter net operating income was $143 million , down $51 million or 26 per cent from a year earlier. That pushed down Intact's fourth-quarter net income to $107 million and its adjusted earnings to 88 cents per share, both down about 40 per cent. In the fourth quarter of 2012, Intact had $177 million of net income and $1.49 of adjusted income. Despite the quarter's problems and a challenging outlook for insurers, Intact announced its quarterly dividend will increase by nine per cent to 48 cents per share with the next payment, on March 31 . The company says it's well-positioned to outperform the property and casualty industry, which provides home, auto and commercial insurance. ( The Canadian Press )


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Source: Canadian Press Broadcast Wire (Canada)


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