Intact Financial Corp. (IFC.TO) posts a third-quarter net loss of C$8.0 million or C$0.07 per share, compared to net income of C$57.3 million or C$0.47 per share, for the same period last year, primarily reflecting lower underwriting results, the impact of market yield effect and a non-cash accounting loss related to the increase in value of its preferred shares portfolio.
Net operating income for the quarter was C$21.6 million or C$0.18 per share, down from C$106.4 million or C$0.88 per share in the corresponding quarter last year.
Total revenues for the quarter were C$1.116 billion, compared to C$1.046 billion in the year ago quarter.
Intact Financial declared a quarterly dividend of C$0.32 per share on its outstanding common shares. The dividend will be payable on December 31, 2009 to shareholders of record on December 14, 2009.
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