Propel Reports First Quarter Results and Announces Dividend Increase

About this update from Propel Holdings, Inc.

TORONTO, May 4, 2026 /CNW/ - Propel Holdings Inc. ("Propel" or the "Company") (TSX: PRL), the fintech facilitating access to credit for underserved consumers, today reported financial results for the three months ended March 31, 2026 ("Q1 2026"). Propel also announced that its Board of Directors has approved a further increase to its dividend from C$0.90 to C$0.96 per share on an annualized basis, effective Q2 2026. This represents an increase of 7% and the Company's eleventh consecutive quarterly dividend increase. All amounts are expressed in U.S. dollars unless otherwise stated. Financial and Operational Highlights for Q1 2026 (Shown in U.S. Dollars unless otherwise stated)Comparable metrics relative to Q1 2025 Management Commentary "We are pleased to report a very strong start to the year, supported by stable credit performance, and delivered record first quarter originations, contributing to record revenue, Adjusted EBITDA¹ and Ending CLAB1. Supported by robust consumer demand, origination volumes remained strong into 2026, increasing by 30% year-over-year in the quarter and building on momentum from the end of 2025, driving growth across the portfolio. Credit performance was stable, with provision for loan losses of 45% of revenue, driven by our disciplined underwriting. This represents a significant improvement from 56% in Q4 2025 and reflects strong performance for a first quarter period. Looking ahead, we remain focused on executing our growth strategy. We are expanding into new states in the U.S., introducing new products and adding new marketing partners and channels to scale originations further, while leveraging our AI-powered platform to support continued credit performance. We are seeing strong momentum across the business. With a record Ending CLAB1, sustained demand and new growth initiatives beginning to scale, including Propel Bank and the launch of the Freshline product in partnership with Column, we are focused on the opportunities ahead. We are confident in our ability to deliver continued profitable growth in 2026 and beyond," said Clive Kinross, Chief Executive Officer. Discussion of Financial Results and Business Strategy Dividend IncreasePropel also announced today that its board of directors has approved an increase to its dividend that represents an increase from C$0.90 per commo...

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