Sagen MI Canada Inc. Announces Preferred Share Dividend in the Second Quarter of 2021

TORONTO, May 4, 2021 /CNW/ - The Board of Directors of Sagen MI Canada Inc. (the "Company") (TSX: MIC.PRA) today announced that it has authorized and declared a dividend of $0.48822 per Class A preferred share, Series 1, for the second quarter of 2021. This dividend will be paid on June 30^th, 2021 to holders of record at the close of business on June 15^th, 2021.

Sagen MI Canada Inc. designates any and all dividends on the Class A preferred shares, Series 1 paid or deemed for Canadian federal, provincial or territorial income tax purposes to be paid as "eligible dividends", unless indicated otherwise in respect of dividends paid subsequent to this notification, and hereby notifies all recipients of such dividends of this designation.

About Sagen MI Canada Inc. 

Sagen MI Canada Inc., operating through its wholly owned subsidiary, Genworth Financial Mortgage Insurance Company Canada (doing business as Sagen^TM), is the largest private sector residential mortgage insurer in Canada.  The Company provides mortgage default insurance to Canadian residential mortgage lenders, making homeownership more accessible to first-time homebuyers. Sagen differentiates itself through customer service excellence, innovative processing technology, and a robust risk management framework. For more than two decades, the Company has supported the housing market by providing thought leadership and a focus on the safety and soundness of the mortgage finance system. As at March 31^st, 2021, the Company had $8.1 billion total assets and $4.0 billion shareholders' equity. Find out more at www.sagen.ca.

Contact Information:

Investors – Aaron Williams, 905-287-5504 aaron.williams@sagen.ca
Media – Susan Carter, 905-287-5520  susan.carter@sagen.ca

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

SOURCE Sagen MI Canada Inc.