INTACT FINANCIAL CORP. $63.01 (Toronto symbol IFC; TSINetwork Rating: Speculative) (416-341- 1464; www.intactfc.com; Shares outstanding: 133.3 million; Market cap: $8.4 billion; Dividend yield: 2.8%) is Canada’s largest provider of property and casualty insurance, based on premiums. Its brands include Intact Insurance, Canada BrokerLink, belairdirect and Grey Power.
In the three months ended December 31, 2012, Intact’s revenue rose 7.2%, to $1.69 billion from $1.58 billion a year earlier.
Part of the gain came from Jevco Insurance, which Intact bought from the Westaim Corporation for $530 million in early 2012. Jevco sells insurance to highrisk drivers, as well as owners of motorcycles, snowmobiles, recreational vehicles and tow trucks. It operates in Ontario, Quebec and Alberta.
Before one-time items, Intact earned $1.51 a share in the quarter, up 32.5% from $1.14 a share a year earlier. The insurance business was helped by generally favourable weather. The company also saw higher gains on its investments in the latest quarter.
The improved results have prompted the company to raise its quarterly dividend by 10.0%, to $0.44 from $0.40. The shares now yield 2.8%. The stock trades at 10.4 times Intact’s forecast 2013 earnings of $6.05 a share.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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