TORONTO, April 30, 2026 /CNW/ - Sagen MI Canada Inc. (the "Company") (TSX:MIC) today reported first quarter 2026 net income of $118 million.

First Quarter 2026 Financial Results

Net income of $118 million was $13 million lower than the same quarter in the prior year, primarily due to lower insurance service result and higher insurance finance expense, which were partially offset by higher investment income.

Preferred Dividends

The Company also announced today that its Board of Directors had declared a dividend of $0.3375 per Class A preferred share, Series 1, payable on June 30, 2026, to holders of record at the close of business on June 15, 2026.

Sagen MI Canada Inc. designates any and all dividends paid or deemed for Canadian federal, provincial or territorial income tax purposes to be paid as "eligible dividends", ...