Sagen MI Canada Announces Q4 2024 Earnings and Preferred Share Dividend “`

1e2ac90862f83eaaa75c8065829ad40b Sagen MI Canada Inc. Reports Fourth Quarter 2024 Results and Declares Preferred Share Dividend

TORONTO, January 30, 2025 – Sagen MI Canada Inc. (the “Company“) (TSX: MIC.PR.A) today announced its fourth-quarter 2024 net income of $163 million.

Fourth Quarter 2024 Financial Highlights

The $163 million net income exceeded the same period last year by $12 million, mainly due to a stronger net insurance service result, which offset slightly lower investment income.

Preferred Share Dividend

The Company’s Board of Directors declared a $0.3375 per share dividend on its Class A preferred shares, Series 1. This dividend will be paid on March 31, 2025, to shareholders of record as of March 14, 2025.

Sagen MI Canada Inc. designates all dividends as “eligible dividends” for Canadian income tax purposes, unless otherwise stated, and informs all recipients of this designation.

Detailed Financial Information

For comprehensive operating results, please review the Company’s Management’s Discussion & Analysis (MD&A) filed on SEDAR+ and accessible at [website address]. 

The press release, fourth-quarter 2024 consolidated financial statements, and MD&A are also available on the Company’s investor relations website, [website address]. Investors are urged to review all these documents.

About Sagen MI Canada Inc.

Sagen MI Canada Inc., through its wholly-owned subsidiary, Sagen Mortgage Insurance Company Canada (operating as SagenTM), is Canada’s largest private residential mortgage insurer. The Company provides mortgage default insurance to Canadian lenders, facilitating homeownership for first-time buyers. Sagen distinguishes itself through excellent customer service, advanced technology, and a strong risk management framework. For over two decades, the Company has contributed to the housing market, providing leadership and focusing on the stability of the mortgage finance system. As of December 31, 2024, the Company held $6.8 billion in total assets and $2.9 billion in shareholders’ equity. Learn more at [website address].

Contact Information:

Investors – Amit Chalam, 905-287-5393
Media Remco Appel, 647-880-0724

____________________________

Sagen MI Canada and Sagen are trademarks owned by Sagen MI Canada Inc.

SOURCE Sagen Mortgage Insurance Company Canada

elong