(Kingston, ON – February 23, 2023) – The Board of Directors of The Empire Life Insurance Company (Empire Life) today declared the following cash dividends:
|
Class |
Record Date |
Payable Date |
Amount of Dividend per Share |
|
Common Shares |
March 10, 2023 |
April 4, 2023 |
$18.45 |
|
Non-Cumulative Rate Reset Preferred Shares, Series 3 |
March 17, 2023 |
April 17, 2023 |
$0.3866875 |
The dividend rate on the Preferred Shares, Series 3 for the five-year period commencing on January 18, 2023 and ending on and including January 17, 2028 will be 6.187% annually, as and when declared by the Board of Directors of Empire Life. Thereafter, the dividend rate will be reset every five years at a rate equal to the five-year Government of Canada bond yield plus 3.24%.
Empire Life advises that the above referenced dividends are eligible dividends for the purposes of the Income Tax Act, Canada and any similar provincial tax legislation.
About Empire Life
Established in 1923, Empire Life is a subsidiary of E-L Financial Corporation Limited. The company’s mission is to make it simple, fast and easy for Canadians to get the investment, insurance and group benefits coverage they need to build wealth, generate income, and achieve financial security. As of December 31, 2022, Empire Life had total assets under management of $17.3 billion. Follow us on social media @EmpireLife or visit empire.ca for more information.
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Contact: Karen Smith
Director, Communication Services
613 548-1890, ext. 3387
karen.smith@empire.ca