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iA Financial Group Announces the Establishment of a Normal Course Issuer Bid
iA Financial Group Announces the Establishment of a Normal Course Issuer Bid Ca...
About this update from Ia Financial Corporation Inc.
[{"type":"text","content":"\n \n \n \n iA Financial Group Announces the Establishment of a Normal Course Issuer Bid\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n QUEBEC CITY\n \n ,\n \n Dec. 1, 2021\n \n /CNW Telbec/ -\n \n \n With the approval of the Toronto Stock Exchange, the board of directors of iA Financial Corporation Inc. (\"iA Financial Group\" or the \"Corporation\") has authorized the Corporation 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 common shares issued and outstanding as at November 23, 2021, the whole subject to the prior approval of the Autorité des marchés financiers.\n \n \n \"Over the past several months, the Corporation 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 we create through our strong organic capital generation capabilities and other means,\" commented\n \n Denis Ricard\n \n , President and CEO of iA Financial Group.\n \n \n The purchases will be made at market price at the time of purchase through the facilities of the Toronto Stock Exchange or an alternative Canadian trading system, in accordance with market rules and policies. The common shares purchased will be cancelled. 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 Corporation and its shareholders.\n \n \n The average daily trading volume of the Corporation's common shares was 197,879 on the Toronto Stock Exchange over the last six complete calendar months (\"ADTV\"). Since the Corporation is entitled to purchase up to 25% of the ADTV on any trading day, it can purchase up to 49,469 common shares per day. Above and beyond this daily limit of 49,469 common shares, the Co...